15.10.2008, German government: 0.2 percent.
03.11.2008, EU commission: 0.0 percent.
06.11.2008, IWF: -0.8 percent.
25.11.2008, OECD: -0.9 percent.
05.12.2008, German federal bank: -0.8 percent.
05.12.2008, Deutsche Bank: -4 percent.
10.12.2008, RWI: -2 percent.
11.12.2008, IFO: -2.2 percent.
22.12.2008, IfW: - 2.7 percent.
19.01.2009, EU commission: -2.3 percent.
21.01.2009, German government: -2.25 percent.
28.01.2009, IWF: -2.5 percent.
23.02.2009, Deutsche Bank: -5 percent.
It is like a competition on who makes the worst prediction. I seriously wonder whom are all the bad news supposed to help. Or to say it with German comedian Dieter Nuhr:
Wenn man keine Ahnung hat, einfach mal Fresse halten.
(More polite translation: If you don't have a clue, shut up!)
But there have actually been some good news like unexpected increases in certain indexes based on people's expectations for the future. It's just that the economic institutes don't seem to trust their own surveys. And a report about Germany's export growth in 2008 reads: Export growth is lowest in 5 years! That's how a good news (growth!) is turned into a bad news. And I've always been thinking economy is so much about psychological effects. So shouldn't we interpret every ray of hope as a positive sign rather than turning it down!? I would really like to know if this is a special German mentality issue or if there is the same phenomenon in other parts of the world as well.
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