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Press releases in the past quarter

  1. Ifo Dresden Calls for More Vigorous Growth Policies in Eastern Germany

    Aug 24, 2016: Only a few weeks before the elections in Mecklenburg-Vorpommern and Berlin, the Dresden branch of the Ifo Institute is calling for stronger growth policies in eastern Germany. "Estimates of the Ifo Institute expect that average annual GDP growth will match the average German rate only in Saxony and in Brandenburg in the period 2015 to 2030. The other eastern German states can expect, in some cases, extremely low growth rates”, according to Ifo researcher Joachim Ragnitz in an article published on Wednesday. Details

  2. Results of the Ifo World Economic Survey (WES) of 3rd quarter 2016

    Ifo World Economic Climate Suffers Setback

    Aug 11, 2016: The Ifo Index for the world economy fell by 4.5 index points to 86.0 in the third quarter, dipping to its lowest level in over three years at ten index points below its long-term average. These results contrast with the improvement seen last quarter. Experts’ assessments of the current economic situation remain unfavourable, while their economic expectations are far more negative than last quarter. Sentiment in the world economy is subdued. Details

  3. Brexit Remains Primarily a European Problem

    Aug 8, 2016: Britain itself stands to suffer the most from the Brexit in economic terms, although other European Union countries – and especially Ireland – will also be negatively impacted. The Brexit is hardly expected to have any impact on North America, the Middle East and the CIS states. These are the results of a special question featured in the Ifo World Economic Survey (WES) of 762 experts from 112 countries conducted over the period of 1 July 2016 to 27 July 2016. Details

  4. Advance results of the Ifo World Economic Survey (WES) of 3rd quarter 2016

    Ifo Economic Climate in the Euro Area Remains Overcast

    Aug 4, 2016: Economic sentiment in the euro area weakened this quarter, although the deterioration was only marginal. The Ifo Index for the economic climate in the euro area fell to 111.6 points in the third quarter from 112.7 points in the second quarter, but nevertheless remains way above its long-term average. The deterioration in the economic climate was entirely due to less positive assessments of the economic outlook. The current economic situation, by contrast, improved. The economic recovery in the euro area continued this quarter, but lacked impetus. Details

  5. Credit Constraint Indicator - From the Ifo Business Survey for July 2016

    Credit Constraints Rise Marginally

    Jul 29, 2016: Credit constraints for German trade and industry edged upwards from 14.5 percent in June to 14.6 percent in July. This figure represents the share of companies reporting problems accessing bank credit. The financing environment, especially for banking credit, remains very good for German companies. Details

  6. Germany Redistributes Income Strongly from Top to Bottom

    Jul 28, 2016: Germany is one of the OECD countries with a particularly low level of income inequality, according to the preliminary results of a study conducted by the Ifo Institute on behalf of the Foundation for Family Business (Stiftung Familienunternehmen). “Germany performs strongly by international comparison when it comes to redistribution,” explains Gabriel Felbermayr, Director of the Ifo Center for International Economics and the study’s managing author. With an average government expenditure ratio, it is possible to strongly reduce the degree of inequality in terms of net income compared to gross income. Details

  7. Results of the Ifo Business Survey for July 2016

    Ifo Business Climate Index for Eastern Germany Falls

    Jul 28, 2016: The Ifo Business Climate for trade and industry in the eastern German Länder clouded over somewhat in July on a seasonally adjusted basis. Eastern German companies were markedly less satisfied with their current business situation than in June. They were, however, marginally more optimistic about business developments for the months ahead. Details

  8. Economists Panel for July 2016: German Economists Favour Free Trade Agreements TTIP and CETA

    Jul 27, 2016: The majority of German economics professors are in favour of the planned free trade agreements TTIP and CETA. These are the results of the latest economists panel, a monthly survey conducted by the Ifo Institute in cooperation with the Frankfurter Allgemeine Zeitung. According to the panel, around 72% of the 124 professors surveyed support the agreement with Canada (CETA); while around two thirds advocate an agreement with the United States (TTIP). Details

  9. Ifo Employment Barometer - Results of the Ifo Business Survey for July 2016

    German Companies Continue Search for Staff

    Jul 27, 2016: Potentially higher uncertainty in the wake of the Brexit vote failed to have any negative influence on German companies’ willingness to recruit staff this month. The Ifo Employment Barometer edged upwards to 108.1 index points in July and German companies still plan to recruit additional staff, especially in the service sector. Details

  10. Ifo Export Expectations - Results of the Ifo Business Survey for July 2016

    Export Expectations Fall

    Jul 26, 2016: German business expect fewer stimuli from abroad. Their export expectations fell from 7.9 balance points in June to 5.0 balance points in July. The decline is partly due to uncertainty caused by the Brexit vote. Details

  11. Ifo Business Climate Germany - Results of the July 2016 Ifo Business Survey

    Ifo Business Climate Deteriorates Slightly

    Jul 25, 2016: Sentiment in the German economy weakened slightly in the wake of the Brexit referendum. The Ifo Business Climate Index fell from 108.7 points in June to 108.3 points in July. This was due to far less optimistic business expectations on the part of companies. Assessments of the current business situation, by contrast, improved slightly. The German economy proves resilient. Details

  12. Ifo President Fuest Favours Eight Percent Inheritance Tax Flat Rate

    Jul 15, 2016: Ifo President Clemens Fuest favours an inheritance tax flat rate of eight percent in Germany. “That would be the simplest and fairest solution,” he said on Friday in Munich. Details

  13. Euro Area: Institutes Say Brexit Has Minor Negative Impact on Growth

    Jul 12, 2016: The results of the Brexit referendum have had a slightly negative impact on growth forecasts in the euro area. The three economics research institutes Ifo, INSEE and ISTAT expect economic output to increase by 0.4 percent in the third quarter, and by just 0.3 percent in the fourth quarter. "Without the referendum we would have expected growth to remain at around 0.4 percent in the fourth quarter", notes Atanas Hristov, Ifo Institute. "The referendum has significantly increased uncertainty. The short-term negative impact, however, should remain limited, while the medium-term effect will depend heavily on the new agreements reached between Britain and the EU." Overall, the annual growth rate for 2016 is expected to be around 1.6 percent. Details

  14. Brexit Referendum Will Only Put Slight Damper on German Economy

    Jul 6, 2016: The result of the Brexit referendum will probably only put a small damper on the German economy this year and in 2017, according to calculations by the Ifo Institute. Ifo’s latest figures indicate that growth in Germany will be around 0.1 percent lower than previously forecast for 2016 and 0.1 – 0.2 percentage points lower in 2017. These effects are due to weaker exports and investments. Details

  15. Results of the Ifo Business Survey for June 2016

    Ifo Business Climate Index for Eastern Germany Rises

    Jun 30, 2016: Ahead of the Brexit referendum, the Ifo Business Climate Index for trade and industry in the eastern German Länder rose marginally in June. Eastern German companies assessed their current business situation as somewhat better than last month and the six-month business outlook deteriorated only negligibly. Overall, sentiment remains positive. Details

  16. Credit Constraint Indicator - From the Ifo Business Survey for June 2016

    Credit Constraints Edge Upwards

    Jun 29, 2016: Credit constraints for German trade and industry crept up to 14.5 percent from 14.2 percent last month. This figure represents the share of companies reporting problems accessing bank credit. German firms still have no problems obtaining bank loans and this climate is not expected to change in the months ahead. Details

  17. Ifo President Fuest Fears Higher Minimum Wage Will Impact Refugee Integration

    Jun 28, 2016: The minimum wage increase is overhasty, according to Ifo President Fuest. "In view of the inflow of refugees I think it would have been better not to increase the minimum wage for the time being", he said on Tuesday in Berlin. "It is positive, however, that the Commission has not ceded to public demands to raise the minimum wage to above nine euros," he added. Fuest is a non-voting member of the Minimum Wage Commission. Details

  18. Economists Panel: Vast Majority Favours Raising Retirement Age

    Jun 28, 2016: The vast majority of German economics professors (61.2 percent) surveyed in this month’s Economists Panel conducted by Ifo and the Frankfurter Allgemeine Zeitung is in favour of raising the retirement age to over 67 years. Only 36.9 percent believe that the retirement age should remain fixed at 67, while just 1.9 percent would like to see a return to retirement at 65. "It is remarkable how many colleagues support raising the retirement age and see retirement as of the age of 63 as an economic policy error. That should give politicians food for thought,” said Niklas Potrafke, Director of the Ifo Center for Public Finance and Political Economy. Details

  19. Ifo Dresden Expects 1.7 Percent Growth in Eastern Germany and 1.8 Percent in Saxony

    Jun 28, 2016: Ifo Dresden expects real gross domestic product to grow by 1.7 percent for Eastern Germany (including Berlin) and 1.8 percent for Saxony. These forecasts almost correspond to the Ifo Institute’s forecast of 1.8 percent in 2016 for Germany as a whole. For 2017, Ifo Dresden expects growth of 1.3 percent for Eastern Germany (including Berlin) and 1.5 percent for Saxony, which are both slightly lower than the figure forecast by the Ifo Institute for Germany on the whole (1.6 percent). Details

  20. Ifo Export Expectations - Results of the Ifo Business Survey for June 2016

    Export Expectations Rise

    Jun 28, 2016: German businesses surveyed prior to the Brexit referendum expressed greater confidence in their exports. Export expectations rose to 8.1 balance points in June from 6.2 balance points in May, reaching their highest level since December 2015. German exporters held their ground in a weak global economic climate. Details

  21. Ifo Employment Barometer - Results of the Ifo Business Survey for June 2016

    Hiring by German Companies Continues Unabated

    Jun 27, 2016: German companies still plan to recruit new staff. The Ifo Employment Barometer edged downwards marginally to 108.0 points in June, versus 108.3 points in May. The employment dynamic nevertheless remains expansively oriented. Details

  22. Ifo Business Climate Germany - Results of the June 2016 Ifo Business Survey

    Ifo Business Climate Index Rises

    Jun 24, 2016: Sentiment in the German economy improved significantly ahead of the Brexit referendum. The Ifo Business Climate Index rose to 108.7 points in June from 107.8 points in May (seasonally adjusted). Satisfaction levels with the current business situation were only slightly higher, but the short-term business outlook improved significantly. The German economy remains buoyant. Details

  23. Ifo President Clemens Fuest Regrets Brexit

    Jun 24, 2016: Ifo President Clemens Fuest regrets the Brexit. "The decision by British voters in favour of a Brexit marks the defeat of common sense", said Fuest on Friday. Details

  24. Over a Third of German Manufacturers Fear Business Losses from Brexit

    Jun 22, 2016: Over a third of German manufacturers fear that a Brexit will negatively impact their business. The exact figure is 38 percent, according to data released by the Ifo Institute on Wednesday. Details

  25. Ifo President Fuest Criticises Constitutional Court

    Jun 21, 2016: Ifo President Clemens Fuest has criticised the OMT ruling by Germany’s Constitutional Court. “This represents an about-turn by the judges compared to the order for reference of 2014. They have not dared to rein the European Central Bank‘s (ECB) government bond buying to any greater degree than the European Court of Justice (ECJ),” said Fuest on Tuesday. Details

  26. Ifo President Fuest Criticises German Inheritance Tax Reform

    Jun 20, 2016: Ifo President Clemens Fuest has criticised the decisions taken over inheritance tax in Germany. "Politicians have once again missed an opportunity to fundamentally reform inheritance tax", Fuest said on Monday in Munich. Details

  27. Ifo Institute Upwardly Revises Forecast to 1.8 Percent Growth

    Jun 16, 2016: The Ifo Institute has upwardly revised its growth forecast to 1.8 percent for this year. In the Spring 2016 Joint Economic Forecast prepared with Germany’s other leading economic research institutes the forecast was just 1.6 percent. "The first quarter of 2016 was better than expected. The moderate upturn in the German economy that started in 2014 is entering the second half. It may even run into extra time,” said Timo Wollmershäuser, Interim Director of the Ifo Center for Business Cycle Analysis and Surveys. The growth rate is expected to decline only slightly to 1.6 percent in the year ahead. Details

  28. Business Climate for German Architects Hits Record High

    Jun 9, 2016: The business climate for freelance architects in Germany has hit a record high, according to the latest Ifo Architects Survey. The business climate, which is based on indicators for the current business situation and expectations, last scaled comparable heights in the wake of German Reunification during the first half of 1990. Details

  29. Ifo President Fuest Opposes Direct Purchase of Corporate Bonds

    Jun 8, 2016: Ifo President Clemens Fuest has criticised the European Central Bank (ECB) for its latest move to buy bonds directly from companies. Details

  30. Credit Constraint Indicator - From the Ifo Business Survey for May 2016

    Credit Constraints Unchanged

    May 31, 2016: The financing environment for German companies remains very favourable. The credit constraints for industry and trade, i.e. the percentage of companies that report problems in borrowing, remained unchanged in May at 14.2 percent. Details

  31. Results of the Ifo Business Survey for May 2016

    Ifo Business Climate Index for Eastern Germany Rises

    May 30, 2016: The Ifo Business Climate Index for industry and trade in eastern Germany rose sharply in May. The eastern German companies were clearly more satisfied with their current business situation. They also noticeably upgraded their business expectations for the coming half year. Business confidence has improved in all four main survey sectors. Details

  32. German Minimum Wage Detrimental for the “Internship Generation”

    May 27, 2016: The new minimum wage law in Germany has eliminated numerous internship positions. This is the result of the latest Ifo Personnel Manager Survey, conducted for Randstad Deutschland, which was published on Friday. The number of companies offering internships has roughly halved. Before the introduction of the minimum wage, 70% of the companies said they offered voluntary internships, a number which has now fallen to 34%. This is also the case for compulsory internships, where the percentage of companies likewise fell from 62% to 34%. Details

  33. Ifo Employment Barometer - Results of the Ifo Business Survey for May 2016

    German Companies Continue to Hire

    May 27, 2016: German companies plan to continue hiring new employees. The Ifo Employment Barometer stands unchanged at 108.2. The employment dynamics in German thus remain slightly expansionary. Details

  34. Ifo Export Expectations - Results of the Ifo Business Survey for May 2016

    Rising Export Expectations

    May 26, 2016: German businesses are somewhat more confident with regard to export growth. Export expectations rose from 4.1 in the previous month to 5.9 balance points in May. Global economic momentum remains weak and German exports will only grow slightly as a result. Details

  35. Ifo Business Climate Germany - Results of the May 2016 Ifo Business Survey

    Ifo Business Climate Index Rises

    May 25, 2016: Business confidence in German industry and trade has improved in all four main sectors. In construction a new record high has even been reached. The Ifo Business Climate Index rose from 106.7 points in April (this figure was revised due to the seasonal adjustment) to 107.7 points in May. The companies are significantly more satisfied with their current business situation. In addition, they are noticeably more optimistic with regard to the coming months. The German economy is growing at a robust pace. Details

  36. Economists Panel

    May 24, 2016: An overwhelming majority of German economists is opposed to the UK leaving the European Union, as the Ifo Institute has determined. The latest Economists Panel survey by the Ifo Institute together with the Frankfurter Allgemeine Zeitung shows that 85 percent of the respondents are against it, only 10 percent are in favour. “This result fits surprisingly well with the opinion voiced by the experts in the World Economic Survey (WES) of the Ifo Institute. In April, WES polled more than 700 experts from 113 countries on Brexit: 86.6 percent of the respondents were against it”, remarked Niklas Potrafke, head of the Ifo Center for Public Finance and Political Economy. Details

  37. 165 Violations of the EU Deficit Criterion

    May 23, 2016: In 165 instances, EU states have violated the three-percent hurdle for budget deficits. In only 51 cases was this permissible because the respective countries were in recession, the Ifo Institute reported on Monday, citing the latest figures of the EU Commission. In 114 cases it was not permissible. Details

  38. Ifo President Fuest Opposes Brexit

    May 11, 2016: Ifo’s new President Clemens Fuest has voiced his opposition to Britain’s exit from the EU. “A Brexit would be highly detrimental to all involved,” he said on Wednesday in Dresden. “Germany would be the EU’s biggest loser since Britain is a key market for its exports. Germany would also lose a key ally within the EU in terms of promoting free trade. As for Britain, it would damage itself with a Brexit, as the EU is its biggest export market.” Details

  39. Results of the Ifo World Economic Survey (WES) of 2nd quarter 2016

    Ifo World Economic Climate Brightens Slightly

    May 11, 2016: The world economic climate improved slightly this quarter. The Ifo Index for the world economy rose from 87.8 points to 90.5 points, thus approaching its long-term average of 96.0 points. Although assessments of the current economic situation deteriorated marginally, economic expectations were more positive than last quarter. Experts expect the world economy to grow by 2.0 percent in 2016 and its recovery remains moderate. Details

  40. Ifo President Clemens Fuest Opposes Abolition of 500 Euro Banknotes

    May 4, 2016: Ifo President Clemens Fuest opposes the abolition of the 500 euro banknote. "The abolition of the 500 euro banknote undermines confidence in the European Central Bank (ECB). It will inevitably create the impression that the main reason for withdrawing the banknote is to push negative interest rates even lower,” Fuest said on Wednesday in Munich. Details

  41. Advance results of the Ifo World Economic Survey (WES) of 2nd quarter 2016

    Ifo Economic Climate in the Euro Area Continues to Cloud Over

    May 3, 2016: Economic sentiment in the euro area weakened. The Ifo Index for the economic climate in the euro area continued to fall, declining from 118.9 points to 112.7 points in the second quarter. The index nevertheless remains above its long-term average. The economic climate deteriorated due to both less favourable assessments of the current economic situation and slightly more sceptical business expectations. According to the survey results, economic growth will reach 1.6 percent this year. There are still no signs of a sweeping economic recovery in the euro area. Details

Press contact

Harald Schultz

Ifo Institute
Press, Publications, Conferences
Phone: +49(0)89/9224-1218
Fax: +49(0)89/9224-1267
Email: schultz @ ifo.de
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