Industrial companies in the German state of Baden-Wuerttemberg invested substantially more money in capital equipment goods and real estate last year than they did in 2017, according to data published Wednesday by the state's statistics office in Stuttgart.
The investments came to 14.7 billion euros (16.2 billion dollars) in 2018, up a robust 7.7 per cent from the year previously. About three-quarters of the industrial sectors in the southwestern state recorded an increase in their investments last year.
Once again, the largest share of the investments, 5.5 billion euros, was by the automotive sector, though this figure did represent a small drop of 75 million euros, or 1.3 per cent, from 2017 levels. But the figure still meant that 37.6 per cent, or more than one-third, of all industrial investments in Baden-Wuerrtemberg were in the auto industry. In 2017, the share had been 41.1 per cent.
The next-strongest industrial branch in terms of investment volume was the machinery sector, with 12.5 per cent growth to 2.6 billion euros, while the metalworking industry's investments gained by 13.7 per cent to 1.3 billion euros.
Investments by industrial companies in Baden-Wuerrtemberg had strongly dropped in 2009 in the wake of the worldwide economic and financial crisis. It was only in 2015 that investment spending again surpassed the pre-crisis levels of 2008.
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