Business | Schumpeter

The smiling new face of German big business

From Allianz to Zalando, pedlars of services are outdoing industrial firms at home—and foreign rivals abroad

The illustration depicts a surreal figure with a head resembling the Belgian flag, balancing a cityscape on a tray in one hand and holding a car in the other. The figure's body is dressed like a performer, and two smoking exhaust pipes protrude from the ba
Illustration: Brett Ryder

GERMANS ARE a brooding bunch. After all, their language gave the world “angst”. After five years of trouble some may even be feeling a sense of Niedergeschlagenheit (literally, beaten-downness). Covid-19 was followed in 2022 by war in Ukraine, soaring energy prices and cooling Chinese demand for German wares. Europe’s biggest economy last grew year on year in the first quarter of 2023—and then only by a downbeat 0.2%.

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This article appeared in the Business section of the print edition under the headline “At your service”

From the March 1st 2025 edition

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