GACC_Yearbook_2013 - page 3

The results of this year’s “German-
American Business Outlook” or “GABO”,
the annual survey of German companies
in the U.S. by the German American
Chambers of Commerce (“GACCs”) again
show that almost all German subsidiaries
remain optimistic on the development of
their U.S. businesses for 2014 and be-
yond. Nearly all respondents to our an-
nual survey – 98 percent, to be exact –
said they expect their U.S. operations to
grow in2014.More thanhalf of them, or
58percent, expect even “stronggrowth”!
Especially German small and medium-
sized companies showed strong confi-
dence on their prospects in the U.S.
Exciting news comes again from the
results of this survey for the U.S. job
market: Three-quarters of the respon-
dents report that they plan to hire addi-
tional staff in the coming year. Large
firmsnot suchmuch, however, theyactu-
ally exceeded their hiring expectations
for 2013, as only half of these expected
to add staff in 2013, but 78 percent actu-
ally did so. That could maybe happen
again in 2014!
Even though not all perspectives for
2014 are seen optimistically there does
seem to be an overwhelming confidence
in the continuing recovery and strength
of the U.S. economy which provides a
platform to overcome any existing hur-
dles. However, as the results of the sur-
vey show, German companies remain
concerned about the long-term fiscal
stability of the U.S., and about half of
them complain of major issues with re-
cruiting skilled workers, especially in
technical fields.
As to the latter, the GermanAmerican
Chambers of Commerce, together with
theGermanEmbassy’s “Skills Initiative”,
are addressing this issue by cooperating
with technical college systems and Ger-
man businesses in many regions across
the U.S. to develop and strengthen ap-
prenticeship programs to create a skilled
workforce necessary to grow German
businesses in this country.
To recognize and to foster these ef-
forts, theGACCs have created the “Train-
er of theYear”Award in 2013whichwas
proudly presented at this year’s GABO
event at the New York Stock Exchange
toMikeBryanof BoschRexroth inChar-
lotte, South Carolina.
The importance of the Transatlantic
Trade and Investment Partnership
will become apparent in years to come
United States-German Economic Yearbook 2013
2014: Confidence
Hits Five-Year High
DearMembersand Friendsof
theGermanAmerican Chambersof Commerce,
1,2 4,5,6
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