DIHK Economic Survey - Early Summer 2017 Results

13.06.17 AHK News

The economic growth in Germany is solidifying. Companies are currently defying international crises. They even expect better business - both domestically and abroad. Companies want to invest more and create more employment.

The DIHK therefore increases its forecast for the current year to 1.8% (the forecast at the beginning of the year was 1.6%), even if many risks persist. If there are as many working days this year as 2016, the growth would be just over 2% (calendar effect: -0.3 percentage points).

Employment in Germany is also continuing to grow strongly. In 2017 the Association of German Chambers of Industry and Commerce (DIHK) expects half a million new jobs (forecast at the beginning of the year: 350,000) and there could still be more.

However, the shortage of skilled workers is cemented as a top risk. For the first time, a majority of companies are concerned about securing experts in their industries. Companies in large parts of Germany no longer find the necessary employees to process orders. In addition, the shortage of qualified personnel leads to less investment in new technologies. Thus the skilled labor deficit becomes a real obstacle to growth.

For more information, please see below the results of DIHK’s latest economic survey’s short and long version below available in English and in German.