Subsidiaries of foreign businesses successful in Germany 19. February 2009 by Thomas Jannot In the year 2006 about twenty percent of the total value added generated in Germany was created by businesses the mother companies of which have their headquarters outside Germany. Among industrial businesses (leaving aside the insurance and financial industry) about 20,000 companies in Germany were controlled by non-German businesses in the year 2006. Even though …
Falling output in European construction industry 19. February 2009 by Thomas Jannot In December 2008 output generated in the construction industry fell by 2.2% and 1.7% in the Eurozone and EU27 respectively as compared to November. In November the respective figures had been -1.7% and -1.1% on October. In comparison with December 2007, output fell by 10.1% (Eurozone) and by 6.7% (EU27) in December 2008.
Turnover in hotel and restaurant industry down by 2.5% in 2008 18. February 2009 by Thomas Jannot According to the Federal Statistical Office, turnover generated in the German hotel and restaurant industry was up by 0.1% (in nominal terms) and down by 2.5% in real terms in the year 2008 as compared to the previous year. In comparison with December 2007, turnover decreased by 3.7% and 6.2% respectively in December last year. …
Fast mobile internet booming 17. February 2009 by Thomas Jannot The market for UMTS data services is currently growing rapidly. At the end of 2008 there were 16 million UMTS connections in Germany, according to the German Association for Information Management, Telecommunications and New Media (BITKOM). This year the number of such connections is predicted to increase by about 40% to 22.7 million. This was …
GDP in Europe down by 1.5 percent 17. February 2009 by Thomas Jannot According to estimates by the European Statistical Office (Eurostat), GDP generated in the Eurozone (EZ15) and the EU27 fell by 1.5% respectively in the fourth quarter 2008 as compared to the previous quarter. In the third quarter 2008 GDP had decreased by 0.2% in both regions as compared to the second quarter. In comparison with …
Biggest drop in German GDP since reunification 16. February 2009 by Thomas Jannot The German gross domestic product (GDP) fell by 2.1% in the fourth quarter 2008 as compared to the third quarter after adjustments for price, season and calendar. This was the biggest drop in GDP between two quarters since German reunification. Even though German GDP had grown by 1.5% over the first three months in 2008, …
Majority of German SMEs pessimistic about economic prospects 16. February 2009 by Thomas Jannot The majority of German small and medium-sized entities (SMEs) are quite pessimistic about economic prospects. Many businesses have already registered significant drops in incoming orders as well as turnover and profit. This is the finding published in the new quarterly report by Creditreform. Prospects for the months to come are the most pessimistic in four …
More private insolvencies expected this year in Germany 13. February 2009 by Thomas Jannot According Bürgel, an agency providing economic data, private insolvencies in Germany are set to increase in the year 2009. This opinion is based on the findings of the “Schuldenbarometer 2008” study. Most affected by insolvencies are the age groups of people between 36 and 45 (33.05%, 39,751 cases) as well as the group of people …
Data services for mobile phones booming 12. February 2009 by Thomas Jannot According to the German Association for Information Management, Telecommunications and New Media (BITKOM), the market for mobile phone services will probably grow by 6.6% to 578 billion Euros this year. The turnover generated by mobile phone calls alone is predicted to increase by 4.2% to 454 billion Euros, according to the EITO market research institute. …
5.3 billion Euros spent on fashion and beauty 12. February 2009 by Thomas Jannot Young Germans are a very important target group with enormous purchasing power in particular for the fashion and beauty industry. 5.3 billion out of the 20.7 billion Euros, which young Germans aged between 12 and 19 have at their disposal each year, are spent on fashion and beauty articles. 2.7 billion is spent on going …