German import demand ensures almost 4.8 million jobs across the EU.
Nevertheless, it has become apparent that it is not private consumption that is responsible for the highest value added and employment effects. German industry demand for intermediate and capital goods alone accounts for 3.4 million employees throughout the EU zone.
This was shown by a Prognos AG study for the Association of the Bavarian Economy (vbw).
The results make it clear: Concerns that a competitive and fast-growing German industry could slow down economic momentum in other European countries are unfounded. The opposite is the case.
Autor: Michael Böhmer
Kunde: Vereinigung der Bayerischen Wirtschaft (vbw)