Germany’s DIHK Chambers of Industry and Commerce lowered 2019 growth forecast for the country to 0.9%, sharply down from 1.7%. It noted that “companies’ outlook is getting clouded. Business expectations have significantly deteriorated in all economic sectors.” And, “global trade conflicts are slowing business development, especially in the industrial sector”.
In addition, DIHK warned that should exports to the UK drops by -10%, growth could slow further to 0.7%. In case of additional turbulence in the capital markets, growth could even slow to 0.5%.
