Brexit, trade conflicts to slow German growth in 2019: ministry

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

January 30, 2019

BERLIN (Reuters) – Headwinds from trade disputes and Brexit will further slow the German economy, Europe’s largest, this year after it expanded at the slowest rate in five years in 2018, the Economy Ministry said on Wednesday.

The economy will grow by 1.0 percent this year, slowing from 1.5 percent in 2018, the ministry said, confirming a slashed 2019 projection reported by Reuters last week.

“The German economy is on a growth path again this year, the tenth in a row,” Economy Minister Peter Altmaier said in a statement.”

“But headwinds, mainly from the international environment, are increasing – the key points being: Brexit, trade conflicts, the international tax environment.”

(Writing by Paul Carrel; Editing by Michelle Martin)

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