November 30, 2018 / 12:04 PM / 9 months ago

Germany's BDI slashing 2018 growth forecast to 1.5 percent from 2 percent

A construction site at the river Spree is pictured in Berlin, Germany, November 27, 2017. REUTERS/Hannibal Hanschke

BERLIN (Reuters) - Germany’s BDI industry association is cutting its 2018 growth forecast for Europe’s largest economy to around 1.5 percent from roughly 2 percent, a newspaper reported on Friday.

A BDI spokeswoman confirmed the newspaper report, but declined to give any details.

The Neue Osnabruecker Zeitung said German industry had performed well in the first half of the year but was now dealing with one-off effects such as the problems carmakers are facing in adapting to new pollution standards.

Other risks include U.S. President Donald Trump’s protectionist policies, the trade conflict between the United States and China and Britain’s looming departure from the European Union, the report cited the BDI as saying.

Reporting by Michelle Martin; editing by Thomas Seythal and Robin Pomeroy

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