German business survey points to 2.8% growth this year - DIHK

The German economy, Europe's largest, is on track for growth of 2.8% this year, the DIHK Chambers of Industry and Commerce said on Thursday, basing its forecast on a survey of 30,000 companies. The DIHK projection is weaker than the government's latest forecast - updated last month - for 3% growth this year.

The German economy, Europe's largest, is on track for growth of 2.8% this year, the DIHK Chambers of Industry and Commerce said on Thursday, basing its forecast on a survey of 30,000 companies. The DIHK projection is weaker than the government's latest forecast - updated last month - for 3% growth this year. That was a sharp revision from last autumn's estimate of 4.4%.

Business expectations have dimmed slightly compared to its autumn survey, the DIHK said. Almost a third of firms surveyed expected a negative development in the coming 12 months, and about a fifth expect an improvement, the survey showed. The winners of the crisis are, among others, IT service providers, tax consultants, and auditors, the DIHK said. Congress and trade fair organizers as well as artists, on the other hand, are fighting for their existence.