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Excellent Year for Northern Germany's Service Sector

Creditreform Hamburg von der Decken & Wall KG and the AGA employers' association presented their joint survey "DiNo 2015".

The result of the survey: The service sector in northern Germany presented a good performance in 2015, with sales increased by 3.3 per cent and 33,500 jobs created.

Service Sector: Successful & Optimistic

“More revenue, more jobs than expected – the success story of the industry-related service providers in Northern Germany continues. And also for the coming year, the industry remains optimistic”, explained Nicholas von der Decken, managing Creditreform Hamburg & Wall KG, and Dr. Hans Fabian Kruse, President of the employers’ association AGA today in Hamburg at the presentation of the study” The Service Sector in the North – Dino 2015 “.

33,500 New Jobs

Initially, the industry expected an increase of 22,600 jobs. The survey now reveals significantly higher figures: in total, 33,500 have been created, i.e. 48 per cent more than planned or 2.2 per cent compared to the previous year. 31 per cent of companies recruited new staff (2014: 31 per cent), 60 per cent left personnel figures unchanged (2014: 59 per cent), 9 per cent of the companies had their number of employees decreased (2014: 10 per cent). Particularly in the sectors of marketing & media (+3.6 per cent) and information technology (+2.6 per cent), new employees were hired.

Number of Employees Also Up In 2016

The number of employees is thus expected to increase by 1.4 per cent or 23,000 new jobs in 2016, with marketing & media (+ 3,6 per cent) standing out. Overall, 19 per cent of companies plan to increase staff. 76 per cent of firms expect no changes in employment, while a mere 5 per cent announced to reduce staff. “The services sector is and remains a safe bet in the creation of new jobs”, said Nikolaus von der Decken.
The Dino-indicator, which summarises the assessment of the current and expected sales and earnings, rose from 129 to 132 points. Sales in the sector increased by 3.3 per cent in 201 (2014: 2.9 per cent). For 2016, Northern German services expected sales to rise by a total of 2.8 per cent. Profits are expected to climb by 1.1 per cent.

Hamburg With 2.7 Per Cent Increase In Sales

The service sector of the Hanseatic city recorded a solid 2.7 per cent growth in 2015 (2014: 4 percent). For the coming year, the Hamburg-based companies forecast a further increase in turnover of 3.5 per cent. Profits are expected to grow by 1.1 per cent. Also, staff will be substantially increased by 2.5 or 9.700 jobs per cent next year, after 2015’s 1.5 per cent.

source and further details:

About the DiNo survey

More than 1,000 companies participated in the survey conducted in October 2015. They form a representative sample of the 175,700 enterprises active in the service sector of Northern Germany, and their 1.52 million employees. The annual turnover of the booming sector totals around 185.2 billion euro. In Hamburg, the 367,765 employees working in 38,010 companies achieved an annual turnover of around 74.3 billion euro.

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