Commodities, collective pay agreements
Given the growth of the global economy and strong demand in the manufacturing sector, we anticipate that prices will continue to rise in the primary markets this year.
Collective pay bargaining at the start of the year
The current collective pay agreement for the metalworking and electrical engineering industry in Germany expired on 31 December 2017. Following extensive negotiations, the parties signed a new collective pay agreement that runs until 31 March 2020. The main features of the new agreement are a pay rise of 4.3 per cent in 2018, one-off payments for employees in 2019 and the flexibility to choose working hours of between 28 and 40 hours per week.