Germany's new orders from abroad are increasing, while new orders from domestic market stands at unchanged levels, this implies that the loss is still a little over 20 percent on an annual basis.
In every recession since World War II, the service sector have come to account for an increasing share of production, and most analysts believe that this will happen after this recession as well, the fifth after World War II.
The service sector currently accounts for 70 percent of value in Germany but is expected to take additional part in the upcoming months.
The German unemployment has been relatively successful during this recession, largely thanks to the various incentive packages introduced.
The unemployment rate in July 2009 was 8.2 percent compared with 7.8 percent in May 2008 and this has meant that German companies are beginning to show concern to retain staff when orders increase.
Cecilia Helland
Source
Swedbank's Newsletter authored by chief economist Cecilia Hermansson.