German trade group slashes export forecast as Brexit impact looms

Berlin

GERMANY'S BGA trade association slashed its 2016 forecast for export growth, its head said on Monday, predicting sales abroad by Europe's biggest economy would later stagnate as the delayed impact of Brexit hit home.

Global demand for German goods has slowed significantly, with Britain's decision to leave the European Union (EU) among several factors increasing uncertainties and complicating investment decisions, Anton Boerner said. "The repercussions (of Brexit) will impact us massively in the near future."