A prospering economy raises the standard of living of the population, creates jobs and fills the state coffers, from which tasks such as education, environmental protection and social security are financed.
Over the past 60 years, the social market economy has enabled the citizens of the Federal Republic to increase their nominal income fivefold on average. Even though prosperity has grown considerably over the long term, economic setbacks have had to be endured time and again, because economic growth does not proceed uniformly, but in waves. The yardsticks for economic development include consumption, public and private investment and gross domestic product. A positive economic trend with high growth rates and increasing employment is followed by a downturn with low growth and fewer people in work.
The Institute of the German Economy monitors the current economic situation in Germany and economic developments in other countries using various instruments and regularly publishes economic forecasts. In this way, the IW helps to improve the basis for decision-making in politics and business.
German Economic Institute (IW)
The African Group proposes to reform the WTO’s subsidy rules for industrial goods. Even if this demand for more policy space entails some problems, the EU should view this as an opportunity.
As of March 2023, overall infation is declining in Europe. However, core infation levels continue to remain well above the 2% mandate of the European Central Bank (ECB). In fact, the current bout of infation should continue to weaken as and when supply-chain ...
The war in Ukraine has exacerbated pre-existing production problems in manufacturing networks originating from the coronavirus pandemic. Material shortages are compounded by uncertainties about sufficient energy supplies.
On 15 October 2023, the Polish people will elect a new government. The outcome of this election and the further economic development of the country is also relevant for Europe and in particular for the immediate neighbouring countries, such as Germany.