Bucking the global mood, confidence in growth through 2001 is the keynote of German industry, according to officials of the Hanover Trade Fair, the world’s largest industry exhibition which closed Friday.

The event’s sponsors, the VDMA machine-engineering federation and the ZVEI electronics-industry federation insist that the event had generated expectations of a very positive business climate ahead. According to Klaus Goehrmann, head of Deutsche Messe, organizer of the Hanover show: “What we can take away from this year's fair is that there are absolutely no signs of a slowing business”

A end-of-show poll of exhibitors revealed their current business expectations to be "favorable" or "very favorable" – this despite the German government’s downward revision of its GDP growth forecast.

The VDMA underscored its forecast of 5% growth this year in the German machine-engineering industry – a sector which is regarded internationally as a key economic bellwether. ZVEI painted an even more positive picture for the electronics industry, predicting a 7% growth in sales to DM340 billion.

News source: Handelsblatt (Germany)