Upward Trend has Flattened

  • Georg M. Busch
  • Ewald Walterskirchen

The forces keeping the economy on the growth track are becoming weaker. Recent data for exports and industrial output mirror the continued slack of the international business cycle. Domestic investment in machinery and equipment is also gradually losing momentum. However, strong growth of employment and incomes lend firm support to private consumption and demand for construction is lively.