German B2B service providers expected a new sales record for 2019, according to an industry survey published by the federation of German wholesale and foreign trade (BGA).
According to the survey, sales in the B2B service sector in Germany in 2019 would grow by 3 percent to almost 921 billion euros (1,025.5 billion U.S. dollars), following an increase in sales by 4.7 percent in the previous year.
Germany’s B2B service providers were growing significantly despite a “difficult economic environment”, said Holger Bingmann, president of the BGA.
Bingmann stressed that B2B service providers would “significantly stabilize the economic development in Germany”, but warned that the development was “at risk if global uncertainties continue to worsen and political support is lacking.”
The BGA survey found that not even every third service provider in Germany was satisfied with the results of the governing grand coalition between the conservative union (CDU/CSU) and the Social Democratic Party of Germany(SPD).
The surveyed service providers criticized that Germany had “accumulated infrastructure deficits in the transport and energy sectors as well as in the expansion of the information and communication infrastructure.” (1 euro=1.11 U.S. dollars)