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GERMAN CONSUMERS LACK MOTIVATION.
(From Market - Europe)
Unemployment dipped slightly during the third quarter of 2003, but that was not enough to drive a sustainable improvement in consumer confidence. Job-related concerns and lack of confidence in the government's economic policies will create an atmosphere of anemic growth in private sector consumption throughout 2004
A modest economic recovery during 2004 will mainly be driven by increased export sales on the part of German heavy industry. A survey of more than 25,000 companies conducted by the National Industry Association revealed that during the third quarter of 2003 the number of business leaders who expect the business climate to improve over the next 12 months reached nearly 30 percent, up from 17 percent during the previous quarter
Germany emerged from recession during the third quarter of 2003 with GDP growth of 0.2 percent. Most of the upward momentum was linked to increased export sales. Major manufacturers pin their growth ...
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