Industry invests 6.4 percent more than in the previous year
Industry in Lower Saxony invested more last year than in the previous year. Companies invested a total of 6.2 billion euros in 2022, as announced by the State Statistical Office in Hanover on Friday. This was 6.4 percent more than in the previous year. In contrast, the automotive industry invested 11.5 percent less, but still remained the sector with the highest level of investment in Lower Saxony, accounting for a good third of the total volume.
More than 88 percent of capital expenditure was spent on equipment - including machinery, plant and factory equipment.
The economic situation in Lower Saxony was favorable for the industry, as shown by the 6.4% increase in investments. This upward trend is significant, considering the decrease in investment by the automotive industry, which still held the largest share of total investments at 33%.
Source: www.dpa.com
