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The year 1984

As the appetite for investment in industry and private consumption picked up across the world, the global economic upturn in 1984 gained stability. Among the industrialised nations of the West, this saw in particular the USA, with an increase in gross national product of 6.9 percent, and Japan (+5.5 percent) achieving outstanding rates of growth. Both of these states were outperformed by countries in Asia. For example, the People's Republic of China announced a growth in gross domestic product of 13 percent and a growth of 14 percent in the figure for gross industrial production.

The upswing from the previous year was also consolidated in the Federal Republic. The increase in gross national product (+2.6 percent in real terms), the rises of 2.4 percent in retail sales figures, of 6.7 percent in the wholesale sector and of 6.5 percent in the industrial sector indicated that the difficult economic times experienced in the early 1980s had finally been overcome. Unlike the previous year, it was now rising demand from abroad and increasing exports which were driving forward the economic upturn in industry, an upturn which manifested itself in particular in the raw materials and capital goods sectors with an increase in sales of 6.1 percent and in production of 4.3 percent in real terms. Reaping the benefit of the healthy economic situation in the automotive and textiles industries and in plastics processing, the chemicals industry achieved above average rates of growth. There was a nominal increase in overall sales, up 10.3 percent, and the number of people in employment increased slightly by 0.3 percent to around 550,300 in spite of the continuing processes of rationalisation. Investments in industrial companies in the machine tools and textiles, plastics and printing machinery sectors picked up again, providing decent profits also for mechanical engineering, with this sector achieving a nominal increase of 6.6 percent in its sales.

Annual report 1984