The benchmark interest rate in the United States was last recorded at 4.50 percent. This dataset provides the latest reported value for - United States Fed Funds Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

During the period beginning roughly in the mid-1980s until the Global Financial Crisis (2007-2008), the U.S. economy experienced a time of relative economic calm, with low inflation and consistent GDP growth. Compared with the turbulent economic era which had preceded it in the 1970s and the early 1980s, the lack of extreme fluctuations in the business cycle led some commentators to suggest that macroeconomic issues such as high inflation, long-term unemployment and financial crises were a thing of the past. Indeed, the President of the American Economic Association, Professor Robert Lucas, famously proclaimed in 2003 that "central problem of depression prevention has been solved, for all practical purposes". Ben Bernanke, the future chairman of the Federal Reserve during the Global Financial Crisis (GFC) and 2022 Nobel Prize in Economics recipient, coined the term 'the Great Moderation' to describe this era of newfound economic confidence. The era came to an abrupt end with the outbreak of the GFC in the Summer of 2007, as the U.S. financial system began to crash due to a downturn in the real estate market.

Causes of the Great Moderation, and its downfall

A number of factors have been cited as contributing to the Great Moderation including central bank monetary policies, the shift from manufacturing to services in the economy, improvements in information technology and management practices, as well as reduced energy prices. The period coincided with the term of Fed chairman Alan Greenspan (1987-2006), famous for the 'Greenspan put', a policy which meant that the Fed would proactively address downturns in the stock market using its monetary policy tools. These economic factors came to prominence at the same time as the end of the Cold War (1947-1991), with the U.S. attaining a new level of hegemony in global politics, as its main geopolitical rival, the Soviet Union, no longer existed. During the Great Moderation, the U.S. experienced a recession twice, between July 1990 and March 1991, and again from March 2001 tom November 2001, however, these relatively short recessions did not knock the U.S. off its growth path. The build up of household and corporate debt over the early 2000s eventually led to the Global Financial Crisis, as the bursting of the U.S. housing bubble in 2007 reverberated across the financial system, with a subsequent credit freeze and mass defaults.

Monetary policy is generally regarded as a central element in the attempts of policy makers to attenuate business-cycle fluctuations. According to the New Keynesian paradigm, central banks are able to stimulate or depress aggregate demand in the short run by adjusting their nominal interest rate targets. The effects of interest rate changes on aggregate consumption, the largest component of aggregate demand, are well understood in the context of this paradigm, on which the canonical "workhorse'' model used in monetary policy analysis is grounded. A key feature of the model is that aggregate consumption is fully described by the amount of goods consumed by a representative household. A decline in the policy rate for instance implies that the real interest rate declines, the representative household saves less and hence increase its demand for consumption. At the same time, general equilibrium effects let labour income grow causing consumption to increase further. However, the mechanism outlined above ignores a considerable amount of empirically-observed heterogeneity among households. For example, households with a higher earnings elasticity to interest rate changes benefit more from a rate cut than those with a lower elasticity; households with large debt positions are at a relative advantage over households with large bond holdings; and households with low exposure to inflation are relatively better off than those holding a sizeable amount of nominal assets. As a result, the contribution to the aggregate consumption response differs substantially across households, implying that monetary expansions and tightenings produce relative "winners'' and relative "losers''.

The aim of the project laid out in this proposal is to give a disaggregated account of the heterogeneous effects of monetary-policy induced interest rate changes on household consumption and a detailed analysis of the channels underlying them. Additionally, it seeks to draw conclusions about the determinants of the strength of the transmission mechanism of monetary policy. To do so, it relies on a large panel comprising detailed data from the universe of all households residing in Norway between 1993 and 2015 supplemented with additional micro-data provided by the European Commission. I will be assisted by two project partners, Pascal Paul who is a member of the Research Department of the Federal Reserve Bank of San Francisco and Martin Holm who is affiliated with the Research Unit of Statistics Norway and the University of Oslo. In addition, I would like to collaborate with and help train a doctoral student based at the University of Lausanne on this project.

Existing empirical studies of the consumption response to monetary policy at the micro level rely on survey data. Therefore, they are subject to a number of severe data limitations. The surveys employed typically have either no or only a short panel dimension, suffer from attrition, include only limited information on income and wealth, are top-coded, and contain a significant amount of measurement error. The administrative data set provided to us by Statistics Norway suffers from none of these issues, implying that we are in a unique position to evaluate the household-level effects of policy rate changes. In a first step, we use forecasts published by the Norwegian central bank to derive monetary policy shocks that are robust to the simultaneity problem inherent in the identification of the effects of monetary policy following Romer and Romer (2004). We then confront the micro-data with the estimated shocks to study the consumption response along different segments of the income and wealth distribution and to test the importance of heterogeneity in labour earnings, financial income, liquid assets, inflation exposure and interest rate exposure among others. The findings will be of high relevance as they will not only allow us to evaluate channels hypothesised in the analytical literature, improve our understanding of the monetary policy transmission mechanism and its distributional consequences but also serve as a benchmark for structural models built both by theorists and practitioners.

European Union central banks navigated a complex economic landscape between 2022 and 2025, with interest rates initially rising across member states. However, a pivotal shift occurred in late 2023 as most countries began lowering their rates, reflecting the delicate balance between controlling inflation and supporting economic growth. In the Euro area, the European Central Bank (ECB) led this trend by cutting interest rates from 4.5 percent to 3.15 percent in 2024, implementing four strategic rate reductions throughout the year. This approach was nearly universally adopted, with Poland being the sole EU country not reducing its rates during this period. Global context and policy shifts The interest rate changes in the EU mirror similar movements in other major economies. The United States, United Kingdom, and European Union central banks followed remarkably similar patterns from 2003 to 2024, responding to shared global economic conditions. After maintaining near-zero rates following the 2008 financial crisis and the COVID-19 pandemic, these institutions sharply raised rates in 2022 to combat surging inflation. By mid-2024, the European Central Bank and Bank of England initiated rate cuts, with the Federal Reserve following suit. Varied approaches within the EU Despite the overall trend, individual EU countries have adopted diverse strategies. Hungary, for instance, set the highest rate in the EU at 13 percent in September 2023, gradually reducing it to 6.5 percent by September 2024. In contrast, Sweden implemented the most aggressive cuts, lowering its rate to 2.25 percent by February 2025, the lowest among EU members. These divergent approaches highlight the unique economic challenges faced by each country and the flexibility required in monetary policy to address specific national circumstances.

Canada's inflation rate experienced significant fluctuations from 2018 to 2025. Inflation peaked at *** percent in June 2022 before steadily declining to *** percent by December 2024. In early 2025, inflation began to increase again, rising to *** percent in February, and dropping to *** percent in March. In response to rising inflation between 2020 and 2022, the Bank of Canada implemented aggressive interest rate hikes. The bank rate reached a maximum of **** percent in July 2023 and remained stable until June 2024. As inflationary pressures eased in the second half of 2024, the central bank reduced interest rates to *** percent in December 2024. In 2025, the bank rate witnessed two cuts, standing at ***** percent in April 2025. This pattern reflected broader global economic trends, with most advanced and emerging economies experiencing similar inflationary challenges and monetary policy adjustments. Global context of inflation and interest rates The Canadian experience aligns with the broader international trend of central banks raising policy rates to combat inflation. Between 2021 and 2023, nearly all advanced and emerging economies increased their central bank rates. However, a shift occurred in the latter half of 2024, with many countries, including Canada, beginning to lower rates. This change suggests a new phase in the global economic cycle and monetary policy approach. Notably, among surveyed countries, Russia maintained the highest interest rate in early 2025, while Japan had the lowest rate. Comparison with the United States The United States experienced a similar trajectory in inflation and interest rates. U.S. inflation peaked at *** percent in June 2022, slightly higher than Canada's peak. The Federal Reserve responded with a series of rate hikes, reaching **** percent in August 2023. This rate remained unchanged until September 2024, when the first cut since September 2021 was implemented. In contrast, Canada's bank rate peaked at **** percent and began decreasing earlier, with cuts in June and July 2024. These differences highlight the nuanced approaches of central banks in managing their respective economies amid global inflationary pressures.

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Debt Financing Market Size 2025-2029

The debt financing market size is forecast to increase by USD 7.89 billion at a CAGR of 6.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the tax advantages of debt financing for businesses. The ability to deduct interest payments from taxable income makes debt financing an attractive option for companies seeking capital. Another key trend in the market is the increasing collaboration and mergers and acquisitions (M&A) activity, which often involves the use of debt financing to fund transactions. However, it is important to note that collateral may be necessary for some forms of debt financing, adding layer of complexity to the process.
Companies seeking to capitalize on these opportunities must navigate the challenges of securing adequate collateral and managing debt levels to maintain financial health and wellness. Effective debt management strategies, such as optimizing debt structures and maintaining strong credit ratings, will be essential for companies looking to succeed in this dynamic market. Debt financing is a significant component of the regional capital markets, with financial institutions, banks, and insurance companies serving as major players.

What will be the Size of the Debt Financing Market during the forecast period?

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The market encompasses various debt instruments issued by entities to secure funds for business operations and growth. Market dynamics are influenced by several factors, including interest rate cycles, monetary policy, and economic growth. Basel Accords and the Financial Stability Board set standards for financial institutions' risk management and capital adequacy, impacting debt issuance. Government debt, securitization transactions, and various debt instruments like interest rate swaps, loan-to-value ratios, and credit-linked notes, shape the market landscape. Market volatility, driven by factors such as business cycles, credit spreads, and risk appetite, influences investor sentiment. Debt sustainability, fiscal policy, and ESG investing are increasingly important considerations for issuers and investors.
Asset managers are focusing on leveraging technology and data analytics to improve operational efficiency and meet the evolving needs of investors. The market is, however, not without challenges, with regulatory compliance and interest rate risks being major concerns. Overall, the income asset management market in North America is poised for steady growth, driven by the demand for debt financing and wealth management solutions, and the increasing adoption of advanced analytics and ETFs.

How is this Debt Financing Industry segmented?

The debt financing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Source

  Private
  Public


Type

  Long-term
  Short-term
  Long-term


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Spain
    UK


  APAC

    China
    Japan
    South Korea


  Middle East and Africa



  South America

By Source Insights

The private segment is estimated to witness significant growth during the forecast period. Debt financing is a popular financing method for businesses seeking to expand operations while maintaining ownership. Private debt financing, in particular, has gained significant traction among financial specialists worldwide due to its importance in funding small- and mid-sized organizations globally. The demand for debt financing by startups has increased annually, leading to the sector's substantial growth over the last five years. This financing option's flexibility enables businesses to customize their financing solutions to address specific needs, making it an allure for numerous organizations. Private debt financing encompasses various instruments such as Real Estate Debt, Term Loans, Leveraged Buyouts, Asset Securitization, Infrastructure Financing, Loan Servicing, and more.

Financial Leverage, Debt Covenants, Credit Risk, and Interest Rate Risk are essential considerations in this sector. Hedge Funds, Collateralized Loan Obligations, High Yield Debt, and Investment Grade Debt are alternative investment areas. Private Equity, Syndicated Loans, Venture Debt, Bridge Financing, and Mezzanine Financing are also integral components. Financial Institutions offer various debt financing solutions, including Capital Markets, Expansion Financing, Growth Capital, Debt Refinancing, and Debt Consolidation. Financial Modeling, Return on Investment, and Risk Management are crucial aspects of debt financing. Debt Advisory, Financial Engineering, and Debt Capital Markets are essential services in this field. Small Business Loans, Supp

The benchmark interest rate in Mexico was last recorded at 8.50 percent. This dataset provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Between January 2018 and March 2025, the United Kingdom's consumer price inflation rate showed notable volatility. The rate hit its lowest point at *** percent in August 2020 and peaked at *** percent in October 2022. By September 2024, inflation had moderated to *** percent, but the following months saw inflation increase again. The Bank of England's interest rate policy closely tracked these inflationary trends. Rates remained low at -* percent until April 2020, when they were reduced to *** percent in response to economic challenges. A series of rate increases followed, reaching a peak of **** percent from August 2023 to July 2024. The central bank then initiated rate cuts in August and November 2024, lowering the rate to **** percent, signaling a potential shift in monetary policy. In February 2025, the Bank of England implemented another rate cut, setting the bank rate at *** percent. Global context of inflation and interest rates The UK's experience reflects a broader international trend of rising inflation and subsequent central bank responses. From January 2022 to July 2024, advanced and emerging economies alike increased their policy rates to counter inflationary pressures. However, a shift began in late 2024, with many countries, including the UK, starting to lower rates. This change suggests a potential new phase in the global economic cycle and monetary policy approach. Comparison with other major economies The UK's monetary policy decisions align closely with those of other major economies. The United States, for instance, saw its federal funds rate peak at **** percent in August 2023, mirroring the UK's rate trajectory. Similarly, central bank rates in the EU all increased drastically between 2022 and 2024. These synchronized movements reflect the global nature of inflationary pressures and the coordinated efforts of central banks to maintain economic stability. As with the UK, both the U.S. and EU began considering rate cuts in late 2024, signaling a potential shift in the global economic landscape.

In April 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 21 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in April 2025. In contrast, Russia maintained a high inflation rate of 10.2 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

Judgement on the economic situation of the country and expected development of the economic situation. Attitude to market economy questions. Attitude to the common European currency. Topics: most important problems in Germany; intent to participate in the election; party preference (Sunday question); behavior at the polls in the last Federal Parliament election; judgement on current economic situation in Eastern Germany or Western Germany; expected personal economic situation, currently and for the future; judgement on the economic situation in Germany; judgement on the economic situation in the country in comparison to Western European neighbors; judgement on the socially-oriented market economy in Germany; expected development of the standard of living for the future; wage costs, environment regulations or sales markets as major reason for production by German companies abroad; judgement on the level of business profits and business taxes in Germany; judgement on the sales tax increase; most important countries as competetors of German business; judgement on the quality of industry products from Germany, France, Great Britain, Italy, Japan, Korea, Poland, Czech Republic, USA and from the People´s Republic of China; comparison of technical progress in Germany, Japan and USA; judgement on the speed of technical progress and governmental hinderance of progress; assessment of the readiness of Germans for innovation; trade unions, businesses, Federal Government, Bundesbank, German unity or world economic situation as major reason for current economic problems; preference for wage contracts at association level or company level; orientation of wage increases on the rate of inflation; creation of jobs as task of government or companies; most important reasons for unemployment in Germany; judgement on the extent of governmental intervention in business; judgement on the extent of current social services; problems of reunification solved; preference for economic growth or environmental protection; judgement on the situation in the universities: too many students, study times too long, too little money for universities, too low support of the highly gifted, preference for introduction of tuition fees, too little effort by college instructors and students; attitude to a leading role by the Federal Republic of Germany in European foreign and security policy as well as in European economy and financial policy; advantageousness of membership of the country in the EU; necessity of political unification of Europe to preserve prosperity; too much influence of the EU on national decisions; attitude to the new common currency, Euro; advantages or disadvantages of introduction of the Euro for the German economy, for the respondent personally, for Germany in the short-term as well as in the long view; expected change of political influence by Germany on Europe through introduction of the Euro; expected changes in unemployment and cost of living in Germany; assessment of the stability of monetary value after introduction of the Euro; expected introduction of the Euro and expected observance of the time plans for introduction; desire to stick to the Maastricht criteria as condition for participation in the common currency; advantages or disadvantages as result of postponing introduction of the Euro; significance of the Euro for the respondent; necessity of a common currency for progress of European unification; preferred countries for immediate participation in the European currency; protection of the European market through duties or preference for open competition; self-assessment of extent to which informed about the Euro; counseling services personally received about the effects of the Euro and statement of counseling institution; assessment of the counseling service of banks and savings banks in view of the topic Euro; assessment of the security of the Eurocheque card; possession of a Eurocheque card. Demography: state in which the respondent is eligible to vote; city size; age in classes; school education; occupational training; extent of employment; personal jeopardy to job; occupational group; size of household; persons in household 18 years old and older; union member in the household; close persons who are unemployed or whose job is endangered; sex.

This poll, fielded March 20-22, 2009, is part of a continuing series of monthly surveys that solicit public opinion on the presidency and on a range of other political and social issues. Respondents were asked whether they approved of the way Barack Obama was handling the presidency and issues such as the economy, the financial institutions bailout, insurance company AIG bonuses, and foreign policy. Views were sought on the condition of the national economy, and the level of confidence in Secretary of the Treasury Tim Geithner's handling of the financial crisis. Respondents were also asked their views on companies receiving federal bailout money, whether they approved of the federal government providing money to banks and other financial institutions, whether the media, President Obama, and Congress was spending to much time on the bonuses paid to AIG executives, and whether Congress was spending the right amount of time trying to solve the nation's economic problems. Several additional questions addressed AIG including whether AIG could have found a way not to pay bonuses to their executives, whether the federal government should try to recover the money used for bonuses, how many of the executives respondents thought would return the bonuses, and whether the federal government should give additional financial assistance to AIG if needed. Demographic variables include sex, age, race, marital status, education level, household income, political party affiliation, political philosophy, and voter registration status and participation history.

“Public debt is a controversially discussed revenue type of the state. Already in early centuries it was a controversial theme when palatial selfish rulers ran into debt to finance their construction activities (example: Old-Bavarian debt policy in the 17th and 18th century, see Zimmermann, H., 1999: Ökonomische Rechtfertigung einer kontinuierlichen Staatsverschuldung, in: Henke, K.-D. (eds.), 1999: Zur Zukunft der Staatsfinanzierung. Baden-Baden, p. 159). Given the level of public debt the discussion about the theoretical economic foundations and the legal restrictions is highly topical. In addition, the European Monetary Union and the European Stability and Growth Pact induced completely new debt limitations in Germany. Questions concerning the justification and limitation of public debt are not new, but sine 19th century important issues in the financial and political scientific discussion. The exclusivity of the topic public debt is due to the fact that it is not confined to one subject, but must be interdisciplinary discussed from an economic and legal perspective. This is because political and institutional factors need to be taken into account” (Wucherpfennig, a. cit., p.17). Issues associated with public debt are located at the interface between economics, law and politics. A consequence of this is that one subject area cannot ignore the findings of the others. The first part of this study is about the development of public debt and of business cycle policies in the Federal Republic of Germany, about the problems related with increasing public debt, about consolidation efforts and about the legal discussion. In the second part the development of public debt in the Federal Republic of Germany from 1950 to 2004 is presented empirically. Besides the total amount of the net debt and the debt level, the relation to other public finance data is of primary importance. “The level of debt and the annual burden of debt servicing and repayment may not be considered in isolation, but must be seen in relation to gross domestic product and the financial volume. Those relations are important that express the burden on public budgets and the economy through government debt and its associated interest charges. They are more informative than the absolute amount of debt, the new borrowing or the interest charges. Therefor there is no per capita presentation of the numbers. It has been shown that the per capita debt is not informative regarding the financial burden associated with debt.” (Wucherpfennig, a. cit., p. 31). The third part of the study is about the theoretical economic foundation that is important for the evaluation of public debt. “With the help of credits the state is able to widen significantly its opportunities for actions through a short term extension of the revenue side of public budget. The consequence is a medium and long term exposure to the expenditure side of public budget by interest and amortization expense. Those different short and long term aspects of public debt leaded into controversial judgments under finance experts. Accordingly diverse is the assessment of the reliability and need for public debt. Therefor part three presents some chosen theoretical economic approaches” (Wucherpfennig, a. cit., p. 54f). The fourth part is about public debt as a legal problem. Data tables in HISTAT:A.01 Net borrowing and deficit ratio of the total public budget (1950-2004)A.02 Level of debt and debt ratio of the total public budget (1950-2004)A.03 Net borrowing and level debt of the Federal government (1950-2004)A.04 Interest paid and interest-rate issue of the Federal government (1950-2004)A.05 Interest-tax rate and debt ratio of the Federal government (1950-2004)

The benchmark interest rate in Pakistan was last recorded at 11 percent. This dataset provides - Pakistan Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The material handling equipment industry has closely followed the ups and downs of the broader economy. In 2020, the sector faced a downturn due to pandemic-related disruptions, much like many other industries. However, unlike the sharp decline seen during the 2009 recession, the impact was less severe. The industry experienced a moderate decline, reflecting a more resilient response to economic challenges. Looking forward, between 2021 and 2022, the industry found its footing again as skyrocketing commodity prices fueled revenue growth. Overall, the industry is expected to grow at a CAGR of 1.7% to reach $58.2 billion in 2024. Despite these positive signals, the material handling equipment distributor industry is currently navigating through sluggish economic conditions. The Federal Reserve's aggressive monetary policy adjustments in response to inflationary pressures have cast a shadow over economic recovery efforts, impacting both general economic activities and the specific dynamics of equipment distributors. As a result, the industry faces ongoing challenges in stimulating demand, with expectations for subdued growth as economic uncertainties persist. As a result, the industry is expected to decline 2.1% in 2024. The industry stands to benefit from lower interest rates, which reduce borrowing costs and facilitate investments in equipment. Additionally, technological advancements, such as Automated Guided Vehicles and Autonomous Mobile Robots, will drive demand for more efficient handling solutions, expanding the market for distributors despite challenges from direct sales and competition from foreign manufacturers. Overall, the industry is projected to grow at a CAGR of 1.7% to reach $63.3 billion by 2029.

The benchmark interest rate in China was last recorded at 3 percent. This dataset provides the latest reported value for - China Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Telemarketing and call centers have navigated a dynamic economic landscape in recent years, grappling with challenges and opportunities alike. The initial impact of COVID-19 saw a temporary dip in demand as businesses curbed outsourcing due to reduced consumer spending and corporate profit. Regardless, quick transitions to remote operations and increased demand from the healthcare sector helped cushion the blow, resulting in only a slight revenue decline in 2020. After rebounding from the initial pandemic shock, there was a surge in demand for the industry’s services as consumers returned to traditional shopping and corporate profit soared, spurred by expansionary fiscal and monetary policies. This uptick, however, was only one side of the coin. Increasing inflationary pressures in 2022, driven by a massive jump in demand, forced businesses to tighten budgets, reducing spending on telemarketing and call center services. This caused revenue to drop significantly, with further challenges posed by rising interest rates and offshoring trends. Falling revenue has reduced entry into the industry, which has constrained internal competition and boosted profit over the past few years. While technological advancements like IVR and speech analytics have reduced costs and improved efficiency, the competition from global markets, particularly emerging economies, has diluted some of the industry's growth potential. Overall, revenue for telemarketing and call centers has inched downward at a CAGR of 0.1% over the past five years, reaching $28.0 billion in 2025. This includes a 3.2% rise in revenue in that year. Looking ahead, providers are anticipated to benefit from stable economic growth and the continued expansion of online activities. Cooling inflation and reduced interest rates are expected to revitalize consumer spending and corporate investment, bolstering demand for telemarketing and call center services. Technological advancements will further enhance operational efficiency, although high wage costs will continue to challenge profit. The ongoing migration towards e-commerce will necessitate greater investment in call centers as companies look to better serve online customers. Despite the inherent challenges, the industry's capacity to leverage technological innovations and explore new geographical markets provides a promising outlook, even as it braces for potential economic disruptions. Overall, revenue for telemarketing and call centers is forecast to expand at a CAGR of 3.3% over the next five years, reaching $33.0 billion in 2030.

Since 1997 the ARD-DeutschlandTREND is being conducted on behalf of the ARD (Arbeitsgemeinschaft der öffentlich-rechtlichen Rundfunkanstalten der Bundesrepublik Deutschland - First German Public Broadcasting Association) as well as various print media by Infratest dimap. The monthly telephone survey with approx. 1,000 respondents (for party preferences approx. 1,500 respondents) per wave is based on representative samples and measures attitudes of the voting-age population in the Federal Republic of Germany toward parties, politicians, and current political issues. Some topics are asked repeatedly in an identical manner over time, while other topics are included in one or several surveys only. The DeutschlandTREND is available as an annual cumulation for the years from 1998 onwards.
Party preference in the next Bundestag election (Sunday question); evaluation of the current economic situation in Germany and expectations about the economic situation in one year as well as the expected personal situation in 10 years, perceived social justice in Germany, satisfaction with the work of the Federal Government; issue-competence of the parties regarding: job security, foreign policy, education policy, security of energy supply, social justice, health policy, budgetary and fiscal policy, solution of the most important problems in Germany, tax policy, environmental policy and economic policy; satisfaction with selected top politicians (Annette Schavan, Barack Obama, Christian Lindner,Christian Wulff, Dirk Niebel, Frank-Walter Steinmeier, Gregor Gysi, Hannelore Kraft, Heiner Geißler, Horst Seehofer, Ilse Aigner, Jürgen Rüttgers, Jürgen Trittin, Karl-Theodor zu Guttenberg, Horst Köhler, Kristina Schröder, Angela Merkel, Norbert Röttgen, Peter Ramsauer, Philipp Rösler, Rainer Brüderle, Renate Künast, Ronald Pofalla, Sigmar Gabriel, Sabine Leutheuser-Schnarrenberger, Peer Steinbrück, Thomas de Maizière, Ursula von der Leyen, Guido Westerwelle und Wolfgang Schäuble); chancellor preference for Angela Merkel or Frank-Walter Steinmeier or Sigmar Gabriel or Peer Steinbrück; evaluation of the financial crisis (worst part of the crisis is still to come, worries about loss of job, personal savings and personal economic situation in the future, personal consternation by the crisis, confidence in German government to cope with the crisis, the financial and economic crisis is over, upward trend of the economy, entrepreneurial boom without impact on employees, economic upswing is transferred to employees); attitudes towards the FDP (takes care of the weak in the society, good government work despite all criticism, demand for tax reliefs that cannot be financed, representation of the interests of a certain patronage, Guido Westerwelle causes more harm than good for the FDP, only party that clearly advocates the market economy during the crisis); assessment of the parties CDU, CSU, FDP, SPD, die Linke and die Grünen regarding the observance of their election pledges; preference for an extension of the NATO mission of the Bundeswehr in Afghanistan or for a rapid retreat; attitude towards the announced tax cut in 2011; assessment of the personal tax burden, assessment of the level of Hartz IV rates; support for Germany’s phase-out of nuclear energy by 2021; opinion on the personal advantage of the Euro; attitude towards the new Federal Government (false start, disputed coalition parties without common strategy, change of politicians, clear program for the legislature period, assessment of the guideline competence of the Federal Chancellor Merkel, CDU/CSU do not fit together anymore, arguing between government politicians is normal, for the FDP their own interests are more important than success of the government, election fatigue, Federal Government should have majority in the Bundesrat after the Landtag elections in NRW, disappointment about the work of the government, the state is in good hands, the Federal Government deserves a lesson through the Landtag elections); attitude towards a black-green coalition of CDU and die Grünen (black-green coalition should rule in several federal states, harmonize, could bring the country forward with respect to important issues); attitudes towards politics and Euro crisis (stability of the Euro in Germany’s interest, no alternative to the Euro rescue fund with German guarantees, decisive action and right decisions by the Federal Government, politics can no longer stand up to financial markets, expected loss of stability of the Euro, desire for D-Mark instead of introduction of the Euro, attitude towards support for Ireland by the BRD, demand for the exclusion of financially weak countries from the Eurozone, concern about currency devaluation due to the Euro crisis, financial markets decide on the future of the Euro); perceived security in Germany, attitudes towards the threat of terrorism (country is well protected, demand for detection of security vulnerabilities, controls and monitoring...

The Long Depression was, by a large margin, the longest-lasting recession in U.S. history. It began in the U.S. with the Panic of 1873, and lasted for over five years. This depression was the largest in a series of recessions at the turn of the 20th century, which proved to be a period of overall stagnation as the U.S. financial markets failed to keep pace with industrialization and changes in monetary policy. Great Depression The Great Depression, however, is widely considered to have been the most severe recession in U.S. history. Following the Wall Street Crash in 1929, the country's economy collapsed, wages fell and a quarter of the workforce was unemployed. It would take almost four years for recovery to begin. Additionally, U.S. expansion and integration in international markets allowed the depression to become a global event, which became a major catalyst in the build up to the Second World War. Decreasing severity When comparing recessions before and after the Great Depression, they have generally become shorter and less frequent over time. Only three recessions in the latter period have lasted more than one year. Additionally, while there were 12 recessions between 1880 and 1920, there were only six recessions between 1980 and 2020. The most severe recession in recent years was the financial crisis of 2007 (known as the Great Recession), where irresponsible lending policies and lack of government regulation allowed for a property bubble to develop and become detached from the economy over time, this eventually became untenable and the bubble burst. Although the causes of both the Great Depression and Great Recession were similar in many aspects, economists have been able to use historical evidence to try and predict, prevent, or limit the impact of future recessions.

The allocated balance amount of U.S. commercial real estate (CRE) mortgages at risk as of April 2023 amounted to nearly 88 billion U.S. dollars. The source defines CRE mortgages at risk as loans maturing in the next two years, where the debt service coverage ratio based on net cash flow is less than 1.25x. With monetary policy tightening, these loans may encounter refinancing challenges. Approximately 42 percent of the total amount of at-risk loans were backed by multifamily properties.