German companies’ investment in equipment dropped by over 16
percent in the first quarter of 2009, figures from the
German Federal Statistical Office have shown.
According to the figures, during Q1 2009 German enterprises
invested 16.2 percent less in machinery, equipment and vehicles
than in the last quarter of 2008.
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In the last three months of 2008, investments in these assets
had already dropped by 4.9 percent.
Total investments for Q1 were down by around 8 percent which,
coupled with a drop in exports, meant that Germany’s GDP was 3.8
percent lower than Q4 2008, the sharpest decline since records
began in 1970.
The share of the German leasing market accounted for by
investments in equipment was around 23 percent last year.
In 2008, the equipment leasing sector acquired €51.5 billion
worth of new business, which was 3.3 percent up compared to
2007.
Antonio Fabrizio
