From where he is standing, it is hard to imagine sunnier economic weather. His firm has recently created nearly 3 000 new jobs at home and abroad – where it has been expanding in non-euro zone countries such as Poland and Turkey – and expects sales to rise this year.
“The feeling of looming crisis that people have is still vague, undefined,” said Frobel. “And you see this in their continued willingness to go out and buy.”
Hanover, a bustling industrial and trading hub in northern Germany, is a world away from the recession engulfing Greece, Spain and other parts of Europe. Life, for Germans, is as it should be. Unemployment is at 20-year lows and exports are at record levels. (more)
BERLIN, June 26 (Reuters) – Consumer morale in Germany unexpectedly edged up going into July on improving income expectations, but worries over the euro zone crisis risk hurting consumption in the months ahead, a survey by GfK market research group showed on Tuesday.
Other recent data has suggested Europe’s biggest economy is losing stamina as austerity measures and worries over the crisis hit investment and exports.
The forward-looking consumer sentiment indicator, however, rose to 5.8 heading into July from 5.7 in June, bolstered by a jump in income expectations to 40.1 from 32.0. The reading bucked expectations in a Reuters poll of 24 economists for a drop to 5.6. (more)
London, Wednesday 20 June 2012: The UK remains Europe’s top destination for foreign direct investment (FDI) but will lose its crown to Germany within two years unless action is taken, according to Ernst & Young’s annual UK Attractiveness Survey out today.
The report, which analyses inward investment and the attitudes of global investors, shows that the UK attracted 679 projects in 2011 creating nearly 30,000 jobs.
However, the UK suffered a 7% decline in overall projects, with financial services investment, a traditional source of FDI, dropping by 15%. In contrast, Germany’s share of overall inward investment rose by 15% – leaving it only 2% behind the UK. For the first time in 15 years Germany secured a higher share of manufacturing projects and overtook the UK in securing investment from Japan. Germany also swept up investment from the BRIC countries, winning twice as many FDI projects from Chinese businesses. (more)