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Industrial orders soar despite euro crisis

Industrial orders in Germany rose sharply in October, official data showed on Tuesday, raising hopes that Europe's top economy is standing up to the ongoing turmoil in the eurozone.

Industrial orders soar despite euro crisis
Photo: DPA

Orders were up by 5.2 percent in October, following a decline of 4.6 percent in the previous month, the Economy Ministry said, smashing the expectations of analysts surveyed by Dow Jones Newswires, who forecast a gain of 0.8 percent.

However, in a sign that the crisis might be having an impact on firms’ order books in Germany, the ministry said that the gain was mainly driven from abroad, where orders rose by 8.3 percent on the month. Domestic orders rose by a less impressive 1.4 percent.

Nevertheless, the ministry said: “After three declines in a row, industrial orders have made a good start to the final quarter of the year.”

“The demand trend however remains subdued. Industrial production should therefore continue its currently settled development,” the ministry said in a statement.

Despite the crisis seething around it, Germany’s economy has remained broadly on track, although analysts warn that it cannot remain immune to the turmoil forever.

Last week, unemployment in Germany fell to a 20-year low point and retail sales surprised to the upside, showing that consumers have not given up their optimism — a trend also suggested by confidence surveys.

However, there have also been warning signs for Europe’s biggest economy, not least from ratings agency Standard and Poor’s who warned late Monday that Germany’s coveted AAA credit rating was at risk.

A disappointing bond auction in Germany last month had also fuelled fears that the eurozone debt crisis was seeping from the edges of the bloc to the core.

Markets were concerned that if European powerhouse Germany was having difficulty selling its bonds, then there was little hope for the likes of Italy and Spain.

AFP/mry

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WORKING IN GERMANY

Which Bavaria-based companies regularly hire English speakers?

Bavaria is no doubt a beautiful state with a strong economy, but can be a hard place for non-German speakers to integrate. The Local takes a look at job opportunities in Germany’s southeastern 'Free State.'

Which Bavaria-based companies regularly hire English speakers?

Munich ranks third in German cities with the highest total GDP, behind Berlin and Hamburg, but in terms of GDP per capita, it’s higher than both of them.

It also consistently ranks high, often highest, in terms of average household income.

As of 2023, nine of the 40 companies listed on DAX, Germany’s stock index, were based in Bavaria. Seven of those are based specifically in Munich.

While Frankfurt is commonly known to be Germany’s business capital, Munich can claim the title of Germany’s insurance capital, which is saying something, as Germany is home to some of the largest insurance firms in the world, like Allianz.

Beyond the state’s capital city, a number of international companies are based elsewhere in Bavaria, particularly in the Franken region, near Nuremberg.

Which companies actively hire English speakers?

Bavaria, and Munich in particular, is home to a number of companies at the forefront of international business. But the state is known for its traditional, sometimes conservative, culture, which affects its business culture as well.

Whereas companies embracing English as their primary business language are easy to find in Berlin, the practice is less common in the south. That said, there are some notable exceptions. 

Sportswear giants, Adidas and Puma, both have their headquarters near Nuremberg in Herzogenaurach, and regularly recruit English speaking international talent.

“As an international company, our teams reflect the rich diversity of our consumers and communities,” Jon Greenhalgh, Senior Manager Media Relations for Adidas told The Local. “Fostering a culture of inclusion where we value and leverage differences, ensures that we can authentically engage with our employees and truly connect with our consumers.”

He added that around 40 per cent of Adidas’ Germany-based employees are foreign nationals, from over 100 different countries.

Siemens and BMW rank among Bavaria’s top employers, and are also known to hire their fair share of foreigners.

“In Germany, we recently had around 2,000 open positions,” Konstanze Somborn told The Local on behalf of Siemens AG.

He added that Siemens operates in 190 countries. “That is why we value international teams very much…English as a common language is very usual.”

READ ALSO: ‘Which German companies want to hire foreigners?’

Similarly, BMW hires workers from a variety of backgrounds. 

“Every year, we hire lots of internationals and welcome them to the BMW Group,” Dr. Hans-Peter Ketterl, a press spokesman for BMW Group told The Local. 

But not all of these positions are available to non-German speakers.

Ketterl added that BMW’s working language is German in the country, even though, “English is an indispensable entry requirement as the second corporate language in many areas of the company.”

Check job boards and follow best practices

If it’s your first time applying for jobs in Germany, make sure to change your resume to the German format, even for English positions.

While Germany is home to its own job boards, like Xing, LinkedIn is probably the best place to start. In addition to searching for positions based in your preferred location, you can check relevant groups, like Munich Startups, to broaden your horizons.

The English Jobs in Germany website is also a good resource to start with. 

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