German BDI industry association lowers its 2018 growth forecast for weaker goods demandDevdiscourse News Desk | Updated: 25-09-2018 12:00 IST | Created: 25-09-2018 11:29 IST
Germany's BDI industry association said on Tuesday it had lowered its 2018 growth forecast for Europe's largest economy, citing weaker demand for German goods due to increased business uncertainty and U.S. President Donald Trump's trade policies.
Exports are seen rising by 3.5 percent in real terms, below the BDI's previous forecast of 5 percent, he said.
"You can see and feel the uncertainty that is arising. A further escalation of the trade conflict between China and the United States would of course also hit Europe, and in particular German industry that is very dependent on exports, hard" he said.