Friday, August 25, 2006

Planned German VAT Hike Already Showing Negative Effects

The key gauge of German business sentiment known as the Ifo fell in August from 105.6 to 105. What's interesting is the details of the survey. The current conditions index was unchanged at 108.6, close to a multiyear high. But the future expectations index fell sharply, with the planned VAT hike being cited as the biggest worry.


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