The largest stock exchange companies in Germany set the direction in the economy – upwards. The middle class can follow suit.
(Photo: dpa)
Dusseldorf The year 2023 is likely to be much better for the German economy than feared. Above all, the stability of the large listed corporations is fueling the hope that the downturn feared for the current year will not materialise.
After the record profit of 129 billion euros in 2021, the Dax companies are likely to have achieved the second-best result in German economic history in the past year with 120 billion euros. This is suggested by the first balance sheets and analyst estimates.
In view of rising interest rates and weaker economic expectations, especially in North America, no major growth is to be expected in the current year. But the double-digit profit slumps expected until last autumn will probably not materialise. “The company reports are better than feared,” summarizes Commerzbank analyst Andreas Hürkamp.
Sometimes even better: Siemens recently increased its sales and profit forecast for the current fiscal year after a record quarter. CEO Roland Busch spoke of the “strongest start to a new financial year to date”.
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