October 25, 2018 / 8:54 AM / a year ago

Ifo economist: U.S. trade dispute, Brexit worry German business

MUNICH, Germany (Reuters) - A trade dispute with the United States and the looming departure of Britain from the European Union are the main causes of uncertainly among German companies, Ifo economist Klaus Wohlrabe told Reuters on Thursday.

Wohlrabe said it would be difficult for Germany to meet a growth forecast of 0.6 percent for the fourth quarter which the institute had given in its autumn report but the institute was sticking to a full year growth forecast of 1.7 percent.

He said exports expectations fell significantly in October which hurt the German business climate.

“The golden autumn for the German economy is not materializing,” Wohlrabe said, adding that pessimism was spreading in the auto industry where business expectations fell significantly, burdened by the WLTP emissions tests.

Reporting by Joern Poltz; Writing by Riham Alkousaa; Editing by Madeline Chambers

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