Medium-sized UK firms add more to economy than German peers – report

Lauded Mittelstand companies make up 16.3% of economic activity in Germany, whereas comparable businesses in Britain account for 17.2% domestically

Britain's engine room of medium-sized manufacturing and service companies are more than a match for the German Mittelstand that is lauded by politicians and business leaders as the template for economic growth, according to a study by HSBC.

The UK's "Brittelstand" of middle-market companies with a turnover of more the $50m (33m) but less than $500m (325m) make up 17.2% of economic activity, compared with 16.3% in Germany and 13.2% in the US, the study found.