TIMELINE
Germany
1974
Economy

 GERMANY  1974                          

ECONOMY

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Economy

 

 

In 1974 continuation of the economic crisis that began in 1973

· Nearly 800.000 unemployed people

· Heating oil: The price rises by more than 30% from 1973 to 1974 (due to global oil crisis in 1973)

 

Domestic appliances in West and East Germany

 

 

 

 

 

 

 

 

 

 

 

 

In West Germany 55% owned a car, in East Germany only 16%.

 

West Germany (FRG):

 

· 11 % pay rise (salaries and wages) in civil service after a strike

· 11,4% rise of gross wages in production industries

· For the first time more unemployed people than job vacancies

· Sales crisis in the car industry

· Short time and dismissals in particular in construction and car industries

· 7800 companies go bankrupt

 

East Germany (GDR)

 

· Jan.31: Remuneration for apprentices rises up to 90- 150 Mark

· Oct.19: Extension of paid leave from 15 to 18 days, shift workers get 21 days

 

 

 

Jan. 1: 

Abolition of fixed prices for branded products by law in FRG. Manufacturers’  recommended prices are not binding for retailers.

 

March 22:

The Bundestag decides that young people come of age at 18 instead of 21; The consumer’s right of withdrawal in case of hire purchase is strengthened

 

May 1: 

Motoring offences are punished with penalty points in central index of road traffic offenders in Flensburg

 

May‘74:

Volkswagen presents the first-generation Golf as a modern front wheel drive replacement of the ‘Beetle’

 

June 18:

The Bundestag passes a reformed food law, meant to protect the consumer from physical harm; along with it: ban on tobacco advertising on TV and radio.

 

July 22:

Federal Environmental Agency (Umweltbundesamt) set up in Berlin by an act of  the Bundestag ( in accordance with Western allies against GDR protests)

 

Sept. 5: 

Contract between FRG and Soviet Union providing for an annual delivery of 9.5 billion cubic meters of Soviet natural gas to West Germany until the year 2000

 

Oct. 2:   

Contract of a one billion DM delivery of 10000 heavy commercial vehicles (with Magirus-Deutz engines ) to the Soviet Union

 

Nov.11:  

Ten-Year Agreement between FRG and Poland about economic, industrial and technological cooperation

 

Dec. 9:             

With effect from Dec.20, 1974 West German pensioners are exempted from minimum obligatory exchange on entry to East Berlin or the GDR

 

 

Prices and average wages in the Federal Republic of Germany:

 

Prices:

 

1 l  milk                    0.50 €

250 g butter             1.00 €

1 kg rye bread          0.97 €

 

local newspaper (Hannoversche Allgemeine Zeitung

(0.40 DM) ~ 0.20 €

nationwide newspaper; (Sueddeutsche Zeitung)

weekdays: (0.60 DM) ~ 0.30 €

Saturday   (0.80 DM) ~ 0.40 €

 

Average gross monthly wages in production industries in 1974:  840 €

 

 

 

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70%

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51%

6%

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75%

54%

Disk washer

7%

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