Hans-Peter Keitel, the president of Germany’s BDI industry federation, said a recession is unlikely as industrial companies are “robust” and their order books are “well filled.”
The biggest risk to economic growth is “unstable financial markets and the unsolved sovereign debt problem,” Keitel said in a letter to the German business community published on OTS wire today.
Politicians must now act by implementing recent decisions such as those made at the Group of 20 summit in Cannes, France, he said.
BDI, based in Berlin, represents more than 100,000 German companies.
To contact the reporter on this story: Sheenagh Matthews in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Benedikt Kammel at email@example.com