Germany's BDI warns trade policy, Brexit results in lowering demand for goods
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.