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German pace of innovations unsatisfactory -- Ifo

MUNICH: Germany, long hailed for its industrial prowess, is no longer keeping pace with international innovations, particularly since much research is conducted in low-growth areas, the Ifo research institute said.

In a report released at the weekend, Ifo said the rate of German innovations in industry was unsatisfactory.

While innovations in the chemical and electronic sectors led worldwide patent applications between 1982 and 1992, Germany boasted a record number of vehicle construction patents during that time, Ifo said.

Ifo also said Germans generally applied more for machine construction patents, while other nations held more patents in the electronics industry.

But German companies were making efforts to keep pace with changed circumstances, Ifo wrote, praising small companies for successfully altering their innovation strategies.-Reuter