Economic Outlook: Index Sees Companies in Persistent Slump

Three years after the start of the longest economic downturn in Germany since 1949, Bavarian companies still see no light at the end of the tunnel. According to the semi-annual company survey of the Bavarian Industry and Chamber of Commerce, the mood in the businesses is currently almost as bad as before the change of government in Berlin. The BIHK economic index only increased by one point to 105 points, still lower than the long-term average of 112 points. 3,200 companies throughout Bavaria participated in the survey. BIHK Managing Director Manfred Gößl says that the Bavarian economy continues to run on low heat. As a result, companies on average are hardly spending any money on future plans or new products: The investment indicator of the Industry and Chamber of Commerce was at one point, just above zero.