DIHK Economic Survey Early Summer 2017
The Association of German Chambers of Commerce and Industry (DIHK) is presenting the results of its Economic-Survey Early Summer 2017 with the analysis "Strong economy, lack of skilled employees".
The upturn in Germany is being consolidated. In the early summer of 2017 the positive expectations of the beginning of the year are being translated into reality – and that across a broad front of the economy. Companies are currently defying international crises. They are even expecting business to improve once more – both at home and abroad. Companies here in Germany are planning to invest further and create more jobs.
DIHK therefore increases its forecast for the current year to 1.8% (forecast at the beginning of the year: 1.6%), even though many risks continue to exist. If we had as many working days this year as in 2016, growth would be just over 2% (calendar effect: -0.3 percentage points).
Employment levels also continue to grow strongly. In 2017 the DIHK is expecting half a million new jobs (forecast at the beginning of the year: 350,000). This figure could be even higher. However, the shortage of skilled workers is becoming firmly established as the top risk. For the first time, more than every second company has concerns about how to secure enough skilled workers. Businesses in large parts of Germany are no longer able to find the people they need to process orders. Furthermore, the shortage of qualified personnel means that fewer investments than possible are being made in new technologies. As a consequence, the shortage of skilled workers is becoming a real obstacle to growth.
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