Economic Perspectives in Darmstadt Rhine Main Neckar

Three times a year the Chamber of Commerce and Industry (CCI) Darmstadt Rhine Main Neckar conducts a survey among its members asking for their economic situation and their expectations about the future. More than seven hundred companies participate regularly at the survey. download

At the beginning of this year the economic downswing has continued undampedly. The weak foreign business has left one–s mark on capital expenditure. At least in the industrial sector there are indications that the steep cyclical downturn is about to come to an end. download

After having a favourable economic development in the last years a cyclical downturn was to be expected. However, the present crisis has three distinct causes: The cyclical downturn is accompanied by a crisis on the financial markets and a structural gap mainly in the automotive industry. Germany–s most important trading partners like the EU-15, the United States and Asia are heavily affected by the crisis. This may have serious impact on the regional economic development as 58 percent of the industry–s turnover comes from abroad. download

The worldwide economic downswing affects increasingly the cyclical development in Darmstadt Rhine Main Neckar. Yet, the economic situation in the south of Hesse is still in good shape. The enterprises in Darmstadt Rhine Main Neckar are international competitive, develop outstanding technology and offer a high product quality and may thus resist a worldwide economic downswing better. download

In the first quarter of 2008 the real GDP growth rate reached 1.5 percent. This is has been the highest growth rate since spring 1996 and is thus an impressive proof that the German economy still resists the slump of the US economy, the turbulences of the financial markets and the hardening of the prices for oil and food. download

Despite the slump of the US economy and the turbulences on the financial markets the strength of the German economy is remarkable. In 2007 the real GDP growth rate reached 2.5 percent. The thriving economic situation is mainly driven by exportation and investment. Especially companies from the south of Hesse are globally competitive as they offer outstanding technology and a high product quality. download