Trevor Balchin, IHS Markit economist stated that, “The survey results suggest that manufacturing will contribute to a strengthening in overall economic growth in the first quarter.”
In Germany, the manufacturing industry is on the increase! Last February, this industry showed the highest rate in six years, which without a doubt will strongly contribute to Germany’s strong economy. Furthermore, in the beginning of the year the Markit’s Purchasing Manager’s Index for manufacturing increased and it accounted for approximately a fifth of Germany’s economy.
In the first quarter of this year the nation’s growth rate, as expected, increased by 0.2% and it is predicted to continue to grow this following year. Growths are mainly expected in exports, orders from Germany, purchasing in general and manufacturing. Both domestic and exporting demand have increased, with Asia and Europe with the main areas for growth.
The forecast for the total economic growth for this year is expected to be 1.9%.