Press releases of the CESifo Group.
Latest press releases
Apr 24, 2014: The President of the Ifo Institute, Hans-Werner Sinn, has contradicted the statement by the Troika of the EU Commission, the ECB and the IMF that Greece generated a budget surplus of 0.8 percent of GDP in 2013. “This announcement is tantamount to misleading the public. In reality, there can be no talk of budget surpluses,” said Sinn on Thursday in Munich. “What the Troika had a Commission speaker announce in Brussels was a figure that simply excluded any items of expenditure declared to be non-recurring, and notably the costs of the bank bailout, although it is far from clear that further bank bailout funds will not be required in the future. Budget balances can always be made positive if enough items of expenditure are left out of them. That is why it is so important to abide by the Eurostat rules on primary deficit calculation, and not to bend those rules at will whenever it is convenient.” Details
Ifo Business Climate Germany - Results of the April 2014 Ifo Business Survey
Apr 24, 2014: The Ifo Business Climate Index for industry and trade in Germany rose in April to 111.2 points from 110.7 points last month. Assessments of the current business situation, which were already favourable, improved somewhat. Companies are also more confident about future business developments. Despite the crisis in Ukraine, the positive mood in the German economy prevails. Details
Apr 11, 2014: The head of the German Association of National Health Insurance Funds, Doris Pfeiffer, has criticised Germany’s federal finance minister Wolfgang Schäuble. With his budgets for 2014 and 2015, “The German federal government is now reaching into the pockets of contributors to the social security system”, writes Pfeiffer in an article for the latest issue of ifo-Schnelldienst, published on Friday in Munich. Details
Apr 10, 2014: The German economy is experiencing an upturn in spring 2014. Gross domestic product (GDP) is expected to grow by 1.9 percent this year. The 68 percent projection interval ranges from 1.2 percent to 2.6 percent. Domestic demand is the main driver of growth. Consumer prices will increase by a moderate 1.3 percent in 2014. The number of persons in employment looks set to rise steeply once again in 2014. Economic activity, however, will have to weather an economic policy headwind. The entitlement to a full pension as of 63 years is a step in the wrong direction and the introduction of the minimum wage will curb the rise in employment in 2015. Details
Apr 7, 2014: Economic growth is accelerating in the Eurozone. It will reach 0.4 percent in the first quarter of 2014, following 0.2 percent and 0.1 percent respectively in the two previous quarters. Economic output is subsequently anticipated to rise by 0.3 percent in both the second and third quarters of 2014. These are the results of forecasts by the research institutes Ifo, INSEE and Istat, based in Germany, France and Italy respectively. This economic upswing will be broad-based, covering all of the economic sectors and involving the majority of the 18 member countries. Details