Germany’s DIW – Hard Brexit would have big impact on German economy

Germany’s DIW economic institute said on Wednesday that a hard Brexit would hit the export-oriented German economy hard, Reuters reports.

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The uncertain environment would result in companies and consumers holding back on major spending for now.

Forecast for German 2018 economic growth slashed by 0.3 percentage points to 1.5% and lowered its estimate for 2019 growth by 0.1 percentage points to 1.6%.