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Press releases in the past quarter

  1. 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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

  11. 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

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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

  17. 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

  18. 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

  19. 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

  20. 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

  21. Credit Constraint Indicator - From the Ifo Business Survey for April 2016

    Credit Constraints Hit Historic Low

    Apr 29, 2016: The credit constraints for industry and trade plunged to a historic low of 14.2 percent in April from 15.2 percent last month. Credit constraints dropped in all sectors, marking a further improvement in the financing environment for German companies. This was mainly due to the European Central Bank flooding the markets with money. Details

  22. Results of the Ifo Business Survey for April 2016

    Ifo Business Climate Index for Eastern Germany Rises Slightly

    Apr 28, 2016: The Ifo Business Climate Index for the eastern German Länder rose again slightly in April after three consecutive decreases. Eastern German survey participants’ assessments of their current business situation were marginally better than last month. Their business expectations also brightened slightly. Details

  23. Fuest Proposes Subordinated Bonds for Euro Countries

    Apr 28, 2016: Ifo President Clemens Fuest has proposed a new type of bonds for overcoming the debt crisis in the Eurozone. “For new borrowing in excess of 0.5 percent of annual economic output, which is the upper ceiling agreed in the European fiscal pact, governments should be required to issue subordinated bonds (called ‘Accountability bonds’),” Fuest said in Munich. Details

  24. Ifo Employment Barometer - Results of the Ifo Business Survey for April 2016

    German Companies Plan to Recruit More Staff

    Apr 27, 2016: German companies are planning to recruit more staff. After three consecutive decreases, the Ifo Employment Barometer rose to 108.1 points in April from 107.4 points in March and the employment dynamic gained impetus. Details

  25. Ifo Export Expectations - Results of the Ifo Business Survey for April 2016

    Export Expectations Fall

    Apr 26, 2016: German companies are less confident in export growth. Export expectations fell to 4.0 balance points in March from 6.3 points in April. The flagging dynamic in the world economy is continuing to curb growth in German exports. Details

  26. Economists: Income Inequality on the Rise Since 2000

    Apr 25, 2016: A majority of German economics professors believes that income inequality in Germany has increased since the turn of the millennium. These are the results of the Economists Panel, a monthly survey of German university professors jointly conducted by the Ifo Institute and the Frankfurter Allgemeine Zeitung. The survey results show that 63 percent of professors see an increase in income inequality since 2000,while 21 percent do not; and 16 percent are undecided. Details

  27. Ifo Business Climate Germany - Results of the April 2016 Ifo Business Survey

    Ifo Business Climate Edges Downwards

    Apr 25, 2016: The mood in the German economy remains positive. The Ifo Business Climate Index for German industry and trade dropped to 106.6 points in April from 106.7 points in March. Although companies were somewhat less satisfied with their current situation, their business expectations brightened once again. The moderate upturn in the German economy continues. Details

  28. Ifo President Fuest Praises and Criticises the European Central Bank

    Apr 21, 2016: Ifo’s new President Clemens Fuest has praised ECB President Mario Draghi for dropping the helicopter money idea. “I think it was a good move. Helicopter money would undermine the credibility of the ECB’s monetary policy,” said Fuest on Thursday in Munich. Draghi previously stated: “The concept was never discussed.” According to Fuest, Draghi was right to say that national governments had “done far too little to date” in terms of implementing reforms. “Attention should be paid to his warning. Monetary policy cannot serve as a substitute for reforms. Politics urgently needs to address this situation,” said Fuest. Details

  29. Wages in Eastern Germany Will Lag Behind Western German Levels for Decades

    Apr 21, 2016: It will take decades for Eastern German wages to reach the average level seen in Western Germany, according to new research by the Dresden Branch of the Ifo Institute published on Thursday. Details

  30. Person Controls in the Entire Schengen Area Cost 53 to 130 Euro per Capita

    Apr 18, 2016: Systematic controls of persons at all Schengen borders would lower the economic output of the 27 EU countries by 0.19 percent to 0.47 percent. That would equal 26.65 to 65.8 billion euros or 52.74 to 130.28 euros per capita, according to new calculations by the Ifo Institute published in its Research Report 73. Details

  31. Joint Economic Forecast Spring 2016: Upturn Remains Moderate – Economic Policy Lacks Growth Orientation

    Apr 14, 2016: Economic research institutes now estimate that gross domestic product will increase by 1.6 percent in 2016, instead of 1.8 percent as forecast in autumn 2015. Details

  32. Chernobyl Damages Far Higher Than Previously Calculated

    Apr 13, 2016: The economic damages caused by the nuclear reactor catastrophe in Chernobyl 30 years ago are significantly higher than previous calculations suggested. These are the findings of a study jointly conducted by researchers at Ifo and the Catholic University of Eichstätt-Ingolstadt and published in the latest ifo Schnelldienst. Details

  33. Institutes Expect 0.4 Percent Quarter-on-Quarter GDP Increase in Eurozone

    Apr 12, 2016: Economic output in the Eurozone will increase by 0.4 percent during the first three quarters of this year respectively, according to the three research institutes Ifo (Munich), INSEE (Paris) and ISTAT (Rome). Details

  34. Ifo Institute Criticises Slow Pace of Reform in Greece

    Apr 11, 2016: The Ifo Institute has criticised the slow pace of reform in Greece. “The requirements of the third bailout package for Greece have only been half-heartedly implemented in the last seven months, but fresh funding is being used,” said Niklas Potrafke, Director of the Ifo Center for Public Finance and Political Economy on Monday in Munich. Details

  35. Controls on Persons Lower Bavarian Economic Output by 31 to 77 Euros per Capita

    Apr 8, 2016: Systematic controls of persons at Bavaria’s borders with Austria, at the Brenner pass and along the Balkan route would reduce the German federal state’s annual economic output by 400 to 990 million euros. This figure would be equivalent to 0.07 to 0.18 percent or 31 to 77 euros per capita of Bavaria’s population. These are the findings of a research report by the Ifo Institute to be released shortly. Details

  36. Hans-Werner Sinn Named University Professor of the Year

    Apr 5, 2016: The German Association of University Professors and Lecturers (DHV in German) has named former Ifo President and Professor emeritus at the University of Munich Hans-Werner Sinn as “University Professor of the Year”. The award of 10,000 euros was presented at the German Academia Gala event held on Monday evening in Berlin. According to DHV’s research, Sinn is the most frequently cited economist in Germany and one of the world’s most widely-read economists. Details

  37. Clemens Fuest New President of the Ifo Institute

    Apr 1, 2016: The new Ifo President Clemens Fuest assumed office in Munich on Friday. “I’m very much looking forward to my new responsibilities and thank the institutions of the Ifo Institute and the University of Munich for the confidence they have placed in me”, he said. “I especially want to thank my predecessor, Hans-Werner Sinn, who successfully led the Ifo Institute over the past seventeen years. He is also the founder of the CESifo Research Network that connects researchers from more than 40 countries worldwide and regularly holds conferences for them.” Fuest also stated that he will bring his own research interests to Ifo. “These include areas such as tax policy and the economic aspects of European integration.” Details

  38. Sinn Opposed to Abolishing the 500 Euro Note

    Mar 31, 2016: Ifo President Hans-Werner Sinn has expressed his opposition to the abolition of the 500 euro notes, to an upper limit on cash payments and to negative interest rates. "The European Central Bank (ECB) wants to prevent banks from hoarding cash in order to force them to pay negative deposit rates. If they succeed, savers are also likely to pay penalty interest on their deposits”, he said in Munich on Thursday. “Doing away with the 500 euro banknotes will enable the ECB to increase the penalty interest rate from 0.4 percent to 0.75 percent, because it is more expensive for the banks to hoard cash in the form of 200 euro notes. If this leads to a corresponding decline in the whole interest rate spectrum, Germany, the second largest creditor in the world, would lose an additional eight billion euros in revenue annually.” Details

  39. Work Begins on the Joint Economic Forecast

    Mar 31, 2016: Work has begun on the biannual Joint Economic Forecast of the German economic research institutes at the Ifo Institute, the host for the coming forecast. Timo Wollmershäuser, head of the Ifo Center for Business Cycle Analysis and Surveys, commented on the current economic situation. Details

  40. Sinn’s Last Week at Work Begins

    Mar 29, 2016: Hans-Werner Sinn has begun his last week at work as President of the Ifo Institute. On Thursday 31 March Sinn will retire as Ifo President after 17 years of service in one of Europe's most important economic research institutes. “I feel like a traveller who has arrived at the inn and can lay down his backpack,” he said on Tuesday in Munich. “And I am looking forward to a life-long sabbatical to do whatever research I like.” Sinn will retain an office at the Ifo Institute. Speaking of his successor Clemens Fuest, Sinn said: “I cannot imagine anybody who would be better for the job. I am delighted that he has accepted the position. Clemens is an excellent and extremely successful economist, who has published in the best peer-reviewed journals. As a public finance expert, he has the overview of all subsections of economics that is re-quired in such a role.” Details

  41. Credit Constraint Indicator - From the Ifo Business Survey for March 2016

    Marked Increase in Credit Constraints

    Mar 29, 2016: The credit constraints for industry and trade rose to 15.2 percent in March from 14.5 percent last month – the largest increase since June 2014. This was a result of responses on the credit climate in trade, whereas manufacturers again reported an easier access to credit. For the German economy, bank financing continues to be not a problem. The recent rate cut by the European Central Bank has had no visible impact on the German market for business loans. Details

  42. Ifo Employment Barometer - Results of the Ifo Business Survey for March 2016

    German Companies Plan to Recruit Fewer Staff

    Mar 24, 2016: German companies are increasingly cautious about creating further jobs. The Ifo Employment Barometer dropped to 107.4 points in March from 108.0 points last month. Nevertheless, the employment dynamic remains slightly positively oriented, as can be seen from the positive balances. Details

  43. Results of the Ifo Business Survey for March 2016

    Ifo Business Climate Index for Eastern Germany Drops

    Mar 24, 2016: The Ifo Business Climate for trade and industry in the eastern German Länder clouded over in March. Eastern German survey participants were less satisfied with their current business situation than last month. At the same time, however, their six-month business outlook remained almost unchanged. Eastern German businesses are sceptical going into the spring. Details

  44. Ifo Export Expectations - Results of the Ifo Business Survey for March 2016

    Export Expectations Recover

    Mar 24, 2016: More German manufacturers than in February expect growth in exports. Export expectations rose to 6.4 balance points in March from 4.7 points in February. This is positive news at an uncertain and troubled time. Details

  45. Ifo Business Climate Germany - Results of the March 2016 Ifo Business Survey

    Ifo Business Climate Index Rises

    Mar 22, 2016: After weakening for three consecutive months, sentiment among German businesses brightened slightly in March. The Ifo Business Climate Index for German industry and trade rose to 106.7 points in March from 105.7 points in February. Assessments of the current business situation improved, reaching their highest level in six months. After last month’s sharp decline, expectations also recovered somewhat. German businesses are less sceptical than in February. Details

  46. Richard Musgrave Professorship awarded to Kai A. Konrad

    Mar 14, 2016: The 2016 award winner of the Richard Musgrave Professorship is Kai A. Konrad, Director at the Max Planck Institute for Tax Law and Public Finance. His scientific interest focuses on understanding the functioning of the state and other private or public communities. His Richard Musgrave Lecture (in English), titled "Brothers in Arms – Theory and Experimental Evidence on Alliances" will address key issues of why and when alliances form, how cooperation in alliances emerges in the shadow of conflict, and what happens if members of an alliance have achieved their common goals. Details

  47. Controls on Persons Lower German Economic Output by 17 to 41 Euros per Capita

    Mar 10, 2016: Systematic controls of persons at the borders of the Balkan and Italian routes into the EU would reduce Germany’s economic output by an annual 1.36 to 3.36 billion euros. This would amount to 0.05 to 0.11 percent of annual economic output, or 17 to 41 euros per capita, according to calculations by the Ifo Institute featured in a study published in the latest issue of the ifo Schnelldienst on Thursday. Details

  48. Ifo Institute Cautions Against Brexit

    Mar 7, 2016: The Ifo Institute has cautioned against a Brexit. "Britain’s departure from the EU would have many negative economic consequences not only for the country itself, but also for the EU and Germany", said Gabriel Felbermayr, Director of the Ifo Center for International Economics on Monday in Munich. In the worst case scenario, free trade would grind to a halt, the EU’s internal market rules would become obsolete and customs barriers would be re-established. "Trade would then become really expensive – especially for Britain. For the EU market is far more important to Britain than the latter is to most EU member states. Costs would also rise for BMW, for example, which has its Mini factory in Oxford," noted Felbermayr. Details

  49. Border Controls Will Come at a Low Price for Austrians

    Mar 3, 2016: Checks on persons at all borders on the Balkan and Italian routes would cost Austria between 80 and 210 million euros at its current annual economic output. That represents 0.02 to 0.06 percent of GDP or 9 to 24 euros per capita. These are the results of a new study by the Ifo Institute to be published in the near future. "Exports of goods and services would be 300 million euros lower and imports would drop by 600 million euros", according to Gabriel Felbermayr, Director of the Ifo Center for International Economics. 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
Website


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