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Working days 2024: economic impact and forecast - financial expert analyzed
According to a report by m.osthessen-news.de, the number of working days will decrease slightly in 2024. On average across the country, employees will work 248.8 days, which is 0.6 days fewer than in the year ending. According to Timo Wollmershäuser, chief economic researcher at the Munich Ifo Institute, a 1 percent decline in the number of working days could lead to lower growth in gross domestic product, almost a quarter of a percentage point higher. However, with regard to the economy in the coming year, the effects are negligible, as the difference of minus 0.6 days compared to the previous year means a minus of 0.03 percentage points in gross domestic product. …
Working days 2024: economic impact and forecast - financial expert analyzed
According to a report by m.osthessen-news.de, the number of working days will decrease slightly in 2024. On average across the country, employees will work 248.8 days, which is 0.6 days fewer than in the year ending. According to Timo Wollmershäuser, chief economic researcher at the Munich Ifo Institute, a 1 percent decline in the number of working days could lead to lower growth in gross domestic product, almost a quarter of a percentage point higher. However, with regard to the economy in the coming year, the effects are negligible, as the difference of minus 0.6 days compared to the previous year means a minus of 0.03 percentage points in gross domestic product. However, if other factors are taken into account, the effect could differ from this rule of thumb. Even fewer working days are planned for 2025, which could have further impacts on production.
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A new look at working hours in 2024
What does the decline in the number of working days mean in 2024? What are the possible effects on the economy and the financial sector?
According to a report by m.osthessen-news.de the number of working days will decrease slightly in 2024.
Concerns about fewer working days next year may be exaggerated, according to Timo Wollmershäuser, chief economic researcher at the Munich Ifo Institute. A 1 percent decline in the number of working days could lead to lower gross domestic product growth, almost a quarter of a percentage point higher.
However, the impact on the economy in the coming year is negligible, as the difference of minus 0.6 days compared to the previous year means a minus of 0.03 percentage points in gross domestic product. However, if other factors are taken into account, the effect could differ from this rule of thumb.
Even fewer working days are planned for 2025, which could have further impacts on production in the coming years. It will be interesting to see how these changes will impact the market and the financial industry.
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Read the source article at m.osthessen-news.de