Germany's DIHK Chambers of Industry and Commerce said on Wednesday it expec...
FILE PHOTO: The skyline with its banking district is photographed in Frankfurt, Germany, January 7, 2020. REUTERS/Kai Pfaffenbach/File Photo
BERLIN - Germany’s DIHK Chambers of Industry and Commerce said on Wednesday it expected Europe’s largest economy to grow by 0.7% this year, up slightly from 0.6% in 2019, with export growth stagnant in the face of trade conflicts and Brexit. A large part of the expected growth is due to four additional working days this year, with strong state consumption supporting the otherwise lackluster economy.
“More companies still expect business to be worse rather than better this year,” said DIHK Managing Director Martin Wansleben, presenting the association’s latest business sentiment survey of more than 26,000 firms.“However, the uncertainties caused by the coronavirus are coming now,” Wansleben said.
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