BERLIN (Reuters) - Germany's BDI industry association warned that increased business uncertainty caused by U.S. President Donald Trump's trade policy and Brexit was lowering demand for German goods, as it slashed its forecasts for 2018 economic and exports growth.
"The trade policy of U.S. President Trump, but also the approaching Brexit are dampening investment activity worldwide and with it German export business," BDI President Dieter Kempf said on Tuesday, speaking to journalists at a news conference.
BDI earlier cut its forecast for 2018 German economic growth to 2.0 percent from a previous estimate of 2.25 percent. It also lowered its estimate for 2018 exports growth to 3.5 percent in real terms from 5 percent.
(Reporting by Michael Nienaber, Editing by Maria Sheahan)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app