German economy will grow 0.7 percent this year if Brexit is disorderly: BDI

Construction workers are silhouetted while standing on scaffolding at the construction site of the new headquarters of the  ECB during a guided media tour in Frankfurt
Construction workers are silhouetted while standing on scaffolding at the construction site of the new headquarters of the European Central Bank (ECB) during a guided media tour in Frankfurt, October 31, 2013. REUTERS/Kai Pfaffenbach/File photo

April 1, 2019

BERLIN (Reuters) – Germany’s economy would grow by 0.7 percent this year if Britain leaves the European Union in a disorderly manner, the Federation of German Industry (BDI) said on Monday, a gloomier view for Europe’s biggest economy than in the case of a ‘soft’ Brexit.

“The British economy faces a severe recession,” BDI president Dieter Kempf said in a statement. “A disorderly Brexit will shave at least half a percentage point off German growth this year.”

The BDI has until now forecast that the German economy would grow by 1.2 percent this year.

(Reporting by Tassilo Hummel; Editing by Douglas Busvine)

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