Posted in Economy

Economic forecast: GDP in 2022 as before the pandemic

Although the Expert Council for the Assessment of Macroeconomic Development has revised their forecast downwards for the current year, growth is expected to be 4.9 percent in 2021 and gross domestic product (GDP) is expected to return to the pre-Corona pandmic level in 2022.The Expert…

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Posted in Economy

Ifo: economic ascent from the “Corona valley”

According to the Munich Ifo Institute for Economic Research, an ascent from the “Corona valley” is to be expected. Unlike in the first and second quarters, growth of 6.9 percent in the third quarter and 3.8 percent in the quarter is forecast. An Ifo scientist…

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Posted in Economy

IAB barometer brightens up slightly

The monthly labor market barometer published by the Institute for Labor Market and Vocational Research (IAB) has improved, once again, in June, rising to 94.6 points compared to May. The leading indicator climbed 0.8 points. “The expectations of the employment agencies are slowly brightening again,…

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Posted in Economy Politics

Böckler Foundation: Corona affects income

The Corona pandemic has an impact on people’s incomes. According to a survey by the union-related Hans Böckler Foundation, 26 percent of those questioned stated negative effects. In April it was 20 percent. Nevertheless, the proportion of those who are concerned about their economic future…

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Posted in Economy

Construction industry grows

The construction industry in Germany, unlike many other economic sectors, has seen further growth in sales. As reported by the Federal Statistical Office, revenues rose by 2.4 percent in April, compared to the same period last year. The number of employees grew slightly. The main…

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Posted in Economy Finance Politics

Bridging aid for companies started

The Federal Government has launched an aid program to help companies during the Corona crisis and to get the economy going. For three months up to and including August, it will be possible for companies and the self-employed to receive grants at their fixed costs….

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Posted in Economy Health Politics

Tobacco advertising to be banned after a vote of the Bundestag

The Bundestag has passed a ban on tobacco advertising, which prohibits advertising of tobacco products in cinemas and the distribution of free samples outside the specialist trade from 2021. From 2022, a ban on advertising for cigarettes should apply to billboards, for tobacco heaters beginning…

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Posted in Economy

Good job prospects for skilled workers after training

German companies will offer at least 7 percent fewer apprenticeships than in 2019. The construction industry, on the other hand, will offer 2 percent more jobs for trainees. The prospects for trained specialists to be taken over by the companies where they underwent training are…

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Posted in Economy

Increase in passenger numbers at Frankfurt Airport

The number of passengers at Frankfurt Airport has increased slightly, albeit at a low level. The operator Fraport counted about 250,000 passengers in the previous week. This is 83.3 percent less than in the same period last year, but compared to two weeks ago the…

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Posted in Economy Politics

Stabilization and fundamental rights, priorities during Germany’s Presidency of the EU Council

by Thorsten Koch Chancellor Angela Merkel emphasized in the face of the EU Council Presidency that fundamental rights in the European Union (EU) come first. The Corona pandemic is a challenge for the EU, she said. Maintaining fundamental rights such as freedom of speech, equality…

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Posted in Economy Finance Health Politics

Klöckner for more reasonable prices for meat products

Federal Minister of Agriculture Julia Klöckner (CDU) has strongly advocated that those responsible in the meat industry should remedy possible maladministration in production. After an industry meeting in Düsseldorf with animal owners, meat processing companies, the meat trade, animal and consumer protection groups, Klöckner said…

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Posted in Economy Finance

Lufthansa wants to save money without layoffs

Following a meeting with trade unions, Lufthansa has identified 22,000 full-time surplus jobs. Even before the extraordinary general meeting on June 25, it should be agreed with the unions how part-time solutions can reduce personnel costs, in order to avoid layoffs during the Corona crisis….

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Posted in Economy Finance Politics

Federal Government wants to secure places of job training

The Federal Government wants an aid program that aims to preserve apprenticeships. The aim is to prevent young people’s professional future from being jeopardized. This week, the Federal Cabinet is to provide advice for the first time on a key point paper “Securing training positions”….

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Posted in Economy Politics

Altmaier, Seehofer: markets should pass on VAT reduction

Federal Minister of Economics Peter Altmaier (CDU) is against a VAT reduction beyond 2020. If it were not for the reduction to expire, there might be a great risk for the measure to fizzle out since people would not engage in investment in time. They…

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Posted in Economy Politics

Altmaier: the economy should grow in the second half of the year

Federal Minister of Economics Peter Altmaier (CDU) hopes for a rapid and significant upswing in the German economy: “I expect that we can turn the corner towards new growth in the second half of the year. According to the government’s forecast, robust growth of 5…

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Posted in Economy Politics

Exports decreased by 24 percent in April

As a result of the Corona crisis, exports from Germany to other countries decreased by 24 percent in April, compared to March. Compared to April 2019, they fell by 31.1 percent to 75.7 billion Euros. Imports to Germany were 21.6 percent lower than in March…

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Posted in Economy Politics

European Union might review trade policy

In the face of the Corona crisis, the EU wants to try and find a new balance in trade policy between a Europe that is open to business and a Europe that protects citizens and companies. According to EU Trade Commissioner Phil Hogan, the key…

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Posted in Economy

Licensed trade rose in the first quarter

Revenue generated by the so-called licensed trades rose by 3.8 percent in the first quarter of 2020 compared to the comparable period in 2019. According to data from the Federal Statistical Office, however, 0.4 percent fewer staff were employed in the sectors at the end…

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Posted in Economy

Tourism industry with fewer overnight stays

In April, the tourism industry in Germany recorded 89.3 percent fewer overnight stays. According to the Federal Statistical Office, there were only 4.3 million overnight stays. Only 0.5 million came from foreign guests.

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Posted in Economy Politics

Gröhe advocates a supply chain law

Union Vice-Group Leader in the Bundestag, Hermann Gröhe (CDU), advocates greater attention to supply chains to protect the environment and human rights. “A clever mix of legal regulations and voluntary commitments” makes sense, said Gröhe, emphasizing that more and more medium-sized and large companies are…

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Posted in Economy Politics

Harvest helpers are allowed to enter under hygiene restrictions

Beginning next week, harvest helpers from the European Schengen countries are again allowed to enter Germany without restrictions, but under strict hygiene rules. Entry is possible again from June 16. The seasonal workers should live together, and work, in fixed teams, observing distance rules. If…

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Posted in Economy Politics Technology

A group of Greens for rethinking genetic engineering

There are voices within the Greens party that speak out for a constructive approach to genetic engineering. One has to get involved in the discourse about a new way of dealing with genetic engineering, otherwise the future will be discussed without the Greens, a group…

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Posted in Economy Finance

Labor costs rose in the first quarter due to the Corona crisis

The hourly labor costs incurred by employers in the first quarter of 2020 rose, after adjustment, by 4.3 percent in comparison with the same period in the previous year, the Federal Statistical Office announced. The hours worked can be lower, in the case of vacation…

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Posted in Economy Politics

Spahn supports EU antitrust reforms

German health minister Jens Spahn (CDU) is committed to reforming antitrust law at EU level in order to survive in international competition. Spahn mentioned the need for legal adjustments to come to a European economic and industrial policy in which European companies would become strong….

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Posted in Economy

Former Chancellor remains Chairman of the Rosneft Supervisory Board

Former Chancellor Gerhard Schröder will continue to chair the supervisory board of the Russian energy group Rosneft. This was announced after the annual shareholders’ conference. Schröder has been on the supervisory board of Rosneft, a Russian state-owned company, since 2017. He also has a role…

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