August 14, 2019 / 8:19 AM / 3 months ago

German growth outlook remains subdued due to trade conflicts, Brexit - ministry

FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. REUTERS/Fabian Bimmer

BERLIN (Reuters) - Germany’s growth outlook remains clouded as manufacturers are hit by escalating trade conflicts, Brexit uncertainty and other geopolitical crises, the economy ministry said on Wednesday.

“The outlook remains subdued for the time being. Trade conflicts have recently worsened and the prospects for an orderly Brexit have not improved,” the economy ministry said in its monthly report.

Industrial orders data and sentiment indicators are currently not pointing to the sector providing positive impetus in the coming months, the ministry said.

But it added that domestic demand remained robust thanks to rising incomes and fiscal stimulus.

Reporting by Michael Nienaber; Editing by Michelle Martin

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