The Demise of the Mittelstand
Author: Sam Vaknin
According to a survey of German executives by the influential Ifo think tank, German business confidence rose in January 2003 for the first time in eight months – albeit imperceptibly, from 87.3 to 87.4. A poll conducted by ZEW, another brain trust, confirmed these findings. On past form, though, this confidence level heralds a contraction of 5-6 percent in industrial production.
This is consistent with other dismal figures: negligible growth, stiflingly high real interest rates imposed by the,,
german smes
labor market
long term
mittelstand firms
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