It is a great occasion when all three German American Chambers of Commerce get to come together in one place, and that is precisely what happened on November 19th in Washington, D.C.
Each chamber traveled to D.C. to present the findings of The German American Business Outlook survey, a new annual survey evaluating transatlantic trade relations and assessing German investors’ projections for the U.S. economy. Over 1,600 German subsidiaries reported their businesses experiences and outlook for the coming year. The survey was conducted by the German American Chambers of Commerce in cooperation with the Representatives of German Industry & Trade and Roland Berger Strategy Consultants. GACC South board member Dennis Wagner, President & CEO of BESTAR LLC joined our CEO Kristian Wolf and our Director of Public Relations & Events Stefanie Jehlitschka to help present the survey’s findings.
The survey results were presented in the first joint press conference to be organized by the German American Chambers of Commerce. It was great to learn that 81 percent of German companies here in the U.S. do not foresee further personnel cuts in 2010 and that almost three quarters of the firms maintain a positive outlook and expect moderate growth in the coming year.
Even though this past year has been a challenging one in the business community, it looks as though we can expect a positive upturn as we enter 2010. The survey will be conducted again at the end of 2010, due to the great feedback we received this year.