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German DIHK sees strong exports helping growth, protectionism a worry
February 8, 2017 / 8:34 AM / 10 months ago

German DIHK sees strong exports helping growth, protectionism a worry

BERLIN, Feb 8 (Reuters) - Germany’s DIHK Chambers of Commerce raised its 2017 outlook for growth in Europe’s biggest economy to 1.6 percent, helped by the strongest rise in export expectations in three years but cautioned that firms are worried about U.S. trade policy.

The survey, published on Wednesday, showed that 27,000 DIHK members expect exports to rise by 3 percent this year, up from a forecast of 2 percent in the autumn.

Global trade is reviving, said the DIHK, driven by momentum from the U.S. economy and growth in China.

“While exporters’ worries about demand from abroad wane, more companies see a danger in the political framework for business,” said the DIHK. Firms see possible protectionist measures from the U.S. and reciprocal steps, as well as Brexit and currency turbulence as risks, it said.

In the autumn, the DIHK survey had put economic growth expectations for 2017 at 1.2 percent for this year. (Writing by Madeline Chambers; Editing by Paul Carrel)

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