Recruiting in Germany Bulletin July 2017
Listed Under: News & Bulletins
Recruiting in Germany Bulletin
Welcome to our July 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.
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Economic Commentary - what they are saying
GERMAN ECONOMIC INDICATORS IN JULY 2017
The recent strength of the German economy shows little sign of stopping, although businesses reported slower than expected growth in July.
The Centre for European Business Research Indicator of Economic Sentiment for Germany fell slightly by 1.1 points to 17.5 in July 2017 from 18.6 in the previous month and below the market consensus of 18.
Nevertheless, the outlook for German economic expansion in the coming six months continues to be positive, as 25.4 percent of financial market experts expect economic activity growth to pick up while 66.7 percent expect it to remain steady.
GDP growth should remain robust in 2017, thanks to a strong external sector, resilient fixed investment and domestic demand.
However, shortages of skilled workers are likely to become acuter. This problem has never been really addressed by successive governments.
Also, the continuing fall in unemployment has been accompanied by a rise of the working poor due to low paid jobs. The Social Democratic Party has signalled that it wants to correct some of the job market reforms carried through in the past, as these have led to less secure and badly paid jobs putting many people below minimum wage requirements.
The current inflation rate is 1.58% which is down from the previous months.
German exports seem to be going well. They've increased by 14 percent compared to the same period in 2016. "Made in Germany" is profiting from the recovery in the world economy, especially in countries outside the European Union and seems to show how important open markets are for the German economy.
ELECTION IN GERMANY in 2017
The Federal election in Germany will take place on Sunday, September 24.
The current yearly economic growth figures for Germany are good news for Chancellor Merkel ahead of September’s national elections. They seem to help confirm her economic credentials as she chases a fourth term in office.
A recent poll shows Merkel’s conservative CDU/CSU bloc (40%) – which has been widening its lead over its Social Democrat (24%) rivals – and the pro-business Free Democrats are at present capable of winning enough seats to form a parliamentary majority together.
Chancellor Merkel seems to be as popular as ever and is looking good for a fourth term in office.
Compiled using data from various news and economic commentary sources July 2017 *