Burgeoning German mortgage market picks up local spending

Despite the German market being written off last year, the Dax has since risen almost 20% year-to-date as investors have woken to the idea that Germany may be an investment they can hang in their portfolio. The recovery has been led by an exceptional increase in external trade. This could indicate that German producers have restored some of their price competitiveness. Unemployment levels over 12% and the threat of company migration to low-cost Eastern Europe have focused trade unions into co-operating to improve productivity and actual working practices. After such a strong extern...