If it weren't for the sword of Damocles hanging over us by a very thin thread, we would be able to sit back and relax and enjoy the results of the year that is just ending. A large number of companies have achieved sensational growth in both sales and profits, surpassing previous records. While incoming orders have returned to their normal level once again, the innovative capacity of German industry is driving its export machinery and making for positive job market data. This, in turn, is leading to stable consumer confidence and having a positive impact on the consumption climate.

Gerhard Gotzmann