April 2017 Recruiting in Germany Bulletin

 

Welcome to our April 2017 Recruiting in Germany Bulletin.This latest update indicates a continued demand for key skills in Germany, and we highlight some of the economic key trends leading commentators are predicting.

If you are looking to recruit experienced sales staff to enable you to exploit new or existing markets within Germany, the UK, Europe or further afield, please call us for a no-obligation discussion.

 

Economic Commentary - what they are saying

GERMAN ECONOMIC INDICATORS IN APRIL 2017

Sentiment among German managers seemed to improve further in April. The IFO Business Climate Index rose to 112.9 points in April from 112.4 points last month. Assessments of the current business situation improved therefore quite a lot. In terms of the six-month business outlook, however, companies seen somewhat less optimistic. 

In the manufacturing sector, the index fell slightly. Manufacturers are nevertheless more satisfied with their current business situation this month. After increasing sharply last month, their business expectations, however, are somewhat less optimistic. Production is expected to rise.
 
GDP growth is expected to slow somewhat in 2017. Higher inflation should also dampen household consumption growth and the subsiding refugee crisis will likely slow government consumption. It is expected that GDP will grow 1.6% in 2017, which is up 0.1 percentage points from last month’s forecast.

All in all, it seems relative business as usual with the outlook for the German Economy looking positive moving forward.

GERMAN EXPORTS 

German shipments to fellow eurozone nations increased by 3.5 percent, showing a strong increase. Exports to countries outside the larger 28-nation European Union also rose by 3.4 percent.The latest figures are likely to fuel further debate on the country's huge and growing trade surplus.

THE CONSUMER

Consumer prices rose 0.2% over the previous month in March, according to preliminary data released by the Federal Statistics Office (Destatis) on 30 March.
 
The GfK Consumer Climate Indicator for Germany is set to rise to 10.2 in May of 2017 from 9.8 in April and beating market consensus of 9.9. It is the highest reading since February, as consumers are confident the domestic economy is on the right path amid a more moderate increase in prices and lower petrol prices.

ELECTION IN GERMANY in 2017

The Federal election in Germany will take place on Sunday, September 24. 
 
Chancellor Angela Merkel’s CDU won a resounding victory in Saarland’s state elections in March, while the SPD actually lost some ground. The result poured some cold water on the notion that the SPD could coast to victory in the September federal election on the back of Martin Schulz’ popularity alone.
 
Merkel's centre-right Christian Democrats (CDU) won 40.7% of the vote, a solid 5.5% increase on four years ago and a convincing win over the centre-left Social Democrat Party (SPD,) which only took 29.6%.
 
However, since Schulz's nomination by the SPD, Merkel's coalition - which pairs her conservatives with the SPD - has rather been consumed by internal discord. Schulz and Gabriel are demanding that the austerity requirements imposed on debt-consumed southern European member states be relaxed. They want more money made available for the EU budget and are demanding that the EU's mandate is expanded with the inclusion of a "social dimension."

Compiled by Martin Hamilton April 2017 *
 

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* Disclaimer : This document provides very basic and general information and should not be read as legal advice. Sources for the document include Reuters, Bloomberg, and news sites.