40-hour work week would boost German GDP

27th July 2004, Comments 0 comments

27 July 2004, BERLIN - A nationwide return to a 40-hour work week would add 0.5 percentage points to Germany's annual economic growth, a bank report said Tuesday.

27 July 2004

BERLIN  - A nationwide return to a 40-hour work week would add 0.5 percentage points to Germany's annual economic growth, a bank report said Tuesday.

The extra GDP would come only if workers agreed to work longer hours without any pay increase, said the Deka Bank study reported by the Frankfurter Allgemeine newspaper.

Longer hours without pay have been agreed in several landmark agreements in Germany over the past month including with workers at industrial giants Siemens and DaimlerChrysler.

Many Germans currently work a 35-hour week with up to 35 days of paid vacation a year.

The report noted that aside from a longer work-day, another method to impose a 40-hour week would be to trim about 12 days of paid vacation.

Germany's economy has been in stagnation for the past three years but the government and economists predict growth of between 1.5 percent and 1.8 percent this year.

DPA

Subject: German news

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