Trump, Brexit bite into German growth outlook
Wednesday, 26 September 2018
BERLIN, Sept 25 (Reuters): Germany's BDI industry association on Tuesday lowered its 2018 growth forecast for Europe's largest economy, citing weaker demand for German goods due to increased business uncertainty caused by US President Donald Trump's trade policy and Brexit.
The German economy is now expected to grow by 2.0 per cent this year, down from a previous estimate of 2.25 per cent, BDI President Dieter Kempf said.
Exports will rise by 3.5 per cent in real terms, below the BDI's initial forecast of five per cent. "The trade policy of US President Trump, but also the approaching Brexit are dampening investment activity worldwide and with it German export business," Kempf said.