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Gunter Grittmann
Head of Information and Communication
E-mail: grittmann@zew.de
Phone: +49 (0)621-1235-132
Fax: +49 (0)621-1235-255
Kathrin Böhmer
Public Relations Officer
E-mail: boehmer@zew.de
Phone: +49 (0)621-1235-103
Fax: +49 (0)621-1235-255
In May 2013 economic expectations for Central and Eastern Europe including Turkey (CEE) display a revision of last month’s decline, thereby crawling back to a positive trend. The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe increases by 15.4 points (April 2013: decline by 20.4 points after four consecutive increases). The balance of experts’ expectations is currently set at 44.9 points. In spite of prevailing uncertainty in the Eurozone, experts’ optimism increases in May for all countries in the CEE region and for the Eurozone (indicator increase by 31.1 points). read more
In May 2013 the ZEW-CS Indicator of economic expectations for Switzerland falls by 17.8 points to a level of 2.2 points. Thereby, last month’s significant gains are lost and the indicator falls back to the level of March 2013. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. read more
After a sharp decline last month, the ZEW Indicator of Economic Sentiment for Germany has moved sideways in May 2013. The indicator has gained 0.1 points compared to the previous month and is now hovering at the 36.4 points-mark. read more
The growth of the German gross domestic product (GDP) will accelerate in 2013. For the first and second quarter of 2013, experts expect a median GDP growth of 0.2 and 0.3 per cent. In the third quarter an increase by 0.4 per cent is expected. This is the result of the analysis of a special question for the quarterly ZEW survey among financial market experts conducted by the Centre for European Economic Research (ZEW) in Mannheim. The participants of the survey are asked to forecast the strength of GDP growth in the previous, the current and the subsequent quarter. In April 2013, 158 financial market experts participated in this survey. read more
![](/cake/img/article_images/small/2013_MSWissenschaft_Retusche_5_Bild_Gabriel_3pc.jpeg "The Centre for European Economic Research (ZEW) is again on board of the exhibition ship \\"MS Wissenschaft\\" (MS Science).")
The Centre for European Economic Research (ZEW) is again on board of the exhibition ship "MS Wissenschaft" (MS Science). On 30 April, the floating Science Centre will set sail from Berlin and begin its journey through Germany and Austria. This year, the interactive exhibition with the motto "Alle Generationen in einem Boot"(All generations in the same boat) focuses on demographic change. The Federal Ministry of Education and Research (BMBF) sent the MS Wissenschaft on its mission. read more
The annual job growth in science spin-offs is on average about 3.4 percentage points higher than that of other start-ups in knowledge-intensive economic sectors (research-intensive industry and knowledge-intensive service providers). This is the result of an analysis conducted by the Centre for European Economic Research (ZEW) in Mannheim. The study analyses more than 20,000 business start-ups in knowledge-intensive economic sectors from 1996 to 2000. Science spin-offs are start-ups with at least one person involved who had worked at a university or a non-university research institution, or who had been employed at a scientific institute during the firm foundation. read more
The economic sentiment within the economic sector of the information economy has improved further during the first quarter of 2013. Compared to the fourth quarter of 2012, the ZEW Sentiment Indicator Information Economy increases by 2.8 points and now reaches a level of 61.3 points. It has been crucial for this increase that the companies assess the future business development clearly more optimistically than during the final quarter of 2012. The sub-indicator of business expectations increases by 13.5 points to 69.1 points, which more than outweighs the decrease in the previous quarter. This is the result of a survey conducted by the Centre for European Economic Research (ZEW) in March 2013 within the information economy (further information regarding the survey at the bottom of the press release). read more
In April 2013 economic expectations for Central and Eastern Europe including Turkey (CEE) have decreased for the first time after four consecutive increases. The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe has fallen by 20.4 points. At a level of 29.5 points, it still clearly remains in the positive range. The slowdown of economic sentiment might well reflect rising uncertainty regarding the future development of the eurozone’s debt crisis, among others in Cyprus. A downturn in economic expectations is being observed in almost all countries of the CEE region. Only Hungary’s economic expectations have increased by 11.6 points to a level of 22.8 points. The respective indicator of economic sentiment for the eurozone has decreased by 25.1 points. read more
Positive signals for the German economy in the spring of 2013: the financial market situation has eased and the headwind from the global economy is abating. The Joint Economic Report of spring 2013, conducted by ZEW in cooperation with other leading economic research institutes, forecasts an increase of the German gross domestic product of 0.8 per cent in the current year (68 per cent projection interval: 0.1 to 1.5 per cent) and 1.9 per cent in 2014. read more
In April 2013 the ZEW-CS Indicator of economic expectations for Switzerland, continues its race to catch up which had started in October 2012 and was temporarily interrupted last month. The indicator increases by 17.7 points to a level of 20.0 points. This is the highest level since May 2010. At that time the indicator amounted to 40.5 points. This month’s positive change reflects financial analysts’ growing optimism towards Switzerland’s economic outlook. read more
In April 2013 the ZEW Indicator of Economic Sentiment for Germany has fallen by 12.2 points and is now at a level of 36.3 points. Despite its decline, the indicator currently hovers at its third highest mark within the last 24 months. The current level has only been exceeded in the two preceding months. read more
In the course of 2013, the German M&A market (mergers and acquisitions) will likely recover. Displaying 81 points in January, the ZEW-ZEPHYR M&A Index Germany had a promising start into 2013. According to a forecast of the Centre for European Economic Research (ZEW) in Mannheim, the index is likely to rise even further over the coming months. Although the recent development indicates a change of trend, the initial value of the M&A Index Germany of 100 points in the year 2000 is still far from the indicator’s current level. read more
In March 2013 economic expectations for Central and Eastern Europe including Turkey (CEE) improved for the fourth time in a row. The ZEW-Erste Group Bank Economic Sentiment Indicator for Central and Eastern Europe has increased by 13.6 points. It now stands at 49.9 points. This is the highest level of the indicator since October 2010. The debt crisis in the Eurozone, especially in Cyprus, as well as the difficulties in the government formation in Italy apparently seem to have no major impact on the economic expectations for the CEE region up till now. The optimistic assessment of the economic situation of the CEE region is also reflected by the positive sentiment regarding the macroeconomic development of important CEE countries. Economic expectations increase by 33.8 points for the Czech Republic and by 22.3 points for Poland. read more
The ZEW-CS Indicator of economic expectations for Switzerland has been rising for several months in a row – in March 2013, it is declining for the first time since October 2012. The indicator decreases by 7.7 points to a level of 2.3 points, thereby stabilising close to the neutral level of zero. This development suggests that the analysts surveyed expect a stable economic situation until this year’s third quarter. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has increased by 0.3 points in March 2013. The indicator now stands nearly unchanged at a level of 48.5 points. Hence, after three substantial increases between December 2012 and February 2013, the indicator has stabilised in March at a respectable level. read more
In the coming six months, transport volumes will remain broadly stable in the German transport sector, thereby leaving a relatively small margin for price increases in this period of time. In most transport sectors, prices will rise only slightly or remain on their current level. The only sector that faces significant increases in transport demand and prices is intercontinental air and sea freight. These are the findings of the ProgTrans/ZEW TransportmarktBarometer (Transport Market Barometer) in the first quarter of 2013. In this survey, ProgTrans AG, Basel, and the Centre for European Economic Research (ZEW) in Mannheim interview some 250 top executives from the transport and loading industry on a quarterly basis about their assessment regarding the development of transport markets and prices on a six-month horizon. read more
Appropriately equipped workplaces, reduced working hours and performance requirements, mixed-age work teams, general training, specific training as well as part-time work for older employees: these are some of the measures more and more companies rely on in order to retain older employees. The companies’ efforts are increasing against the background of demographic ageing and the foreseeable shortage of skilled labour. A study conducted by the Centre for European Economic Research (ZEW) in Mannheim is now putting these measures to the test for the first time. One of the study’s results is that mixed-age work teams are the only measure leading to a longer employment period. Part-time work, on the contrary, is apparently even reducing the employment period of older staff, and all the other measures listed above have no influence at all on older employees' decisions to stay with their company. read more
In the last 15 years, some 600 patent infringement litigations were heard in Germany each year. This is the highest number in Europe, and it is largely due to the combination of relatively low costs and quick, reliable court decisions. Interestingly, however, clearly more than half of these lawsuits end without a verdict because the parties involved agree to a settlement or drop the case after the beginning of the court proceedings. A study conducted by the Centre for European Economic Research (ZEW) in Mannheim explains the reasons for this phenomenon: the setting of an unexpectedly high value in litigation, which includes the risk of high legal expenses for the losing party; the danger of a revocation action brought before the German Federal Patent Court, which could threat the monopoly position of the patentee; the approximation of the claimant’s and the defendant’s expectations regarding the outcome of the trial due to external experts’ assessments before the court. read more
In a ceremony at the Centre for European Economic Research (ZEW) in Mannheim, long-standing ZEW President Prof. Dr. Dr. h.c. mult. Wolfgang Franz left office today. Prof. Dr. Clemens Fuest was inaugurated as his successor. From March 1, 2013 he will head ZEW together with the Director of Business and Administration, Thomas Kohl. read more
In February 2013 economic expectations for Central and Eastern Europe including Turkey (CEE) have increased for the third time in a row. The ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE region has improved by 9.3 points to the 36.3 points-mark. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW) in Mannheim with the support of Erste Group Bank, Vienna, since 2007. read more
Economic expectations for Switzerland have climbed from their January reading of minus 6.9 points to a level of 10.0 points in February 2013. The ZEW-CS Indicator reaches its highest value since June 2010 due to this upward movement. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has increased by 16.7 points in February 2013. The indicator now stands at a level of 48.2 points. This is the third increase in a row. read more
In 2011 the innovation expenditures of German companies increased by 9.2 per cent and reached a new all-time high of 131.9 billion euros. It was the larger companies which accounted for the major part of the increase. Despite the robust economic situation, small and medium-sized companies were reluctant to invest. The share of companies which introduced innovations hence dropped below 40 per cent. The share of turnover created with new products reached 14.2 per cent in 2011, thereby falling slightly below the value of the previous year. These are central findings of the recently published “German Innovation Survey 2012”. The survey is conducted by the Centre for European Economic Research (ZEW) in Mannheim in cooperation with the Fraunhofer Institute for Systems and Innovation Research as well as the Institute for Applied Social Sciences (infas) on behalf of the German Federal Ministry of Education and Research (BMBF). read more
The Basel II Accord implemented a tighter regulation of the banking sector. The importance of external credit scoring conducted by rating agencies has thus grown significantly for banks providing business loans. Especially innovative, not yet established companies without a convincing credit history often face substantial difficulties accessing credit. There is no evidence, however, that this is due to unfavourable or missing ratings. A study conducted by the Centre for European Economic Research (ZEW) shows that negative ratings are barriers to companies’ access to credit. Young innovative firms, however, are significantly less impacted by this effect. read more
Major customers such as industrial companies, huge business enterprises, municipalities, and other final consumers demanding large amounts of energy can expect stable prices for electricity, oil, natural gas, and coal in the next six months. In the next five years, however, a rise in energy prices on a large scale lies ahead. This is the result of the ZEW Energy Market Barometer (ZEW Energiemarktbarometer), a survey conducted by the Centre for European Economic Research (ZEW). Every six months, some 200 experts from the energy sector give an assessment on the short- and medium-term trends of energy prices for major customers. The current survey was conducted at the end of 2012 (see end of the press release). read more
Exploiting shale gas using the controversial "fracking" method has led to a strong decrease of gas prices in the United States. In the European Union (EU), however, fracking, i.e. the extraction of gas resources in rocks by injecting water and chemicals under high pressure, would not pay off given the current gas prices. Fracking would only pay off within the EU if gas prices increased significantly. This is a result of the ZEW Energiemarktbarometer (Energy Market Barometer), a semi-annual survey conducted by the Centre for European Economic Research (ZEW) among some 200 experts from the energy sector. read more
Japan and Germany clearly are the innovation leaders in innovative coal technologies. Given the decreasing domestic importance of coal, however, this lead is at risk. These are the findings of a study conducted by the Centre for European Economic Research (ZEW) in Mannheim in cooperation with Augsburg University, the Institute for Policy and Management (IPM) in Peking, and Forschungszentrum Jülich (FZJ) on behalf of the Federal Ministry of Education and Research (BMBF). read more
Economic expectations for Central and Eastern Europe including Turkey (CEE) have highly increased by 20.9 points in January 2013. The ZEW-Erste Group Bank Economic Sentiment Indicator for the CEE region now stands at a level of 27.0 points. The economic sentiment indicator for the CEE region and further financial market data have been surveyed monthly by the Centre for European Economic Research (ZEW), Mannheim, with the support of Erste Group Bank, Vienna, since 2007. read more
Economic expectations for Switzerland have improved by 8.6 points in January 2013, raising the ZEW-CS Indicator to a level of minus 6.9 points. The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon. read more
The ZEW Indicator of Economic Sentiment for Germany has increased by 24.6 points in January 2013. The indicator now stands at a level of 31.5 points, thereby reaching its highest level since May 2010. read more
In the first quarter of 2013, optimism among the companies of the information economy concerning the economic trend in the sector has waned. Contrary to these expectations, the companies assess their current business situation significantly more positive than a few months ago. These are the findings of a survey conducted by the Centre for European Economic Research (ZEW) in the information economy sector in December 2012. read more
The activities of the investment banking sector are frequently criticised as one of the reasons of the recent global financial crisis. The current debate on restructuring the European banking sector is thus concentrating on the introduction of a new system, where the activities of retail banks and investment banks would be broadly separated, legally as well as economically. A current study conducted by the Centre for European Economic Research (ZEW) on behalf of the Association of German Public Banks (VÖB) is now providing a comprehensive picture of such a banking system. Simultaneously, the study questions the existing considerations and illustrates the consequences of a possible implementation in Germany. read more
The European Commissioner for Energy, Günther Oettinger, visited the Centre for European Economic Research (ZEW) in Mannheim today. In a round table, he discussed the future design of German and European energy policy with personalities from the areas of business and politics from the Rhine-Neckar metropolitan region and with ZEW researchers. read more
Franz Untersteller, Baden-Württemberg’s Minister for the Environment, Climate and Energy, today visited the Centre for European Economic Research (ZEW) in Mannheim. He was welcomed by ZEW President Prof. Wolfgang Franz and the Director of Business and Administration, Thomas Kohl. read more
Whether or not a country’s national budget is placed on a firm footing also depends on the finance minister who is responsible for it. This is the result of a study conducted by the Centre for European Economic Research (ZEW). The study investigated how certain personal attributes of finance ministers from 15 European countries affect the development of public debt. read more
German banking industry analysts are confident regarding the development of the DAX in 2013. This is shown by the current results of the ZEW Forecast Survey, a survey among 20 German banks which has been conducted quarterly since 2001 by the Centre for European Economic Research (ZEW). read more