BERLIN (Reuters) - Germany’s DIHK business association said on Friday it expected exports to nearly stagnate this year as a slowing world economy and escalating trade conflicts hurt foreign sales.
“Rising protectionism and a noticeably weakening global economy are burdening Germany’s export-reliant economy,” DIHK trade expert Volker Treier said.
“The U.S. trade dispute with China and the tenacious struggle for Brexit are unsettling investors worldwide and clouding the prospects for German producers of capital goods in particular.”
Treier said there was hardly any hope for meagre export growth this year. In May, the DIHK had forecast export growth of 1.2% for 2019.
Reporting by Michael Nienaber; Editing by Thomas Seythal