German companies are optimistic about the shortage of skilled labor in 2018 as a

A survey released on Wednesday showed that more than half of the German industry associations are not content with U.S. protectionist policies and with the Brexit and are more optimistic about their own situation than they were a year ago.

The IW Institute for Economic Research in Cologne said one of the factors that put Germany in the grip on companies in Europe's largest economy is the shortage of skilled labor.

 
According to the survey, 26 of the 48 trade associations are more optimistic than the end of 2016. More than two-thirds of the associations expect that the enterprises in their industries will have higher production next year than this year.

"Despite the protectionist policies of U.S. President Trump and the prospect of Brexit, the investment in Germany is still rising this year and will further increase in 2018," IW said in a statement.

Only two industries are pessimistic, the food industry fears intensified competition and rising costs, and the cooperative banking industry is suffering from low interest rates and profits.