January 17, 2019 / 9:06 AM / a month ago

Business group fears disorderly Brexit would hamper German growth

BERLIN, Jan 17 (Reuters) - Europe’s largest economy will expand by 1.5 percent in 2019 if there is not a disorderly Brexit but growth will be weaker if there are major disruptions to trade between Britain and the European Union, Germany’s BDI industry body said on Thursday.

If there are such disruptions, the German economy would grow by around 1.0 at most, the BDI said.

“A chaotic Brexit is now getting dangerously close to happening. Companies are looking into the abyss in these times,” BDI President Dieter Kempf said after the British parliament rejected a Brexit deal.

“Businesses on both sides of the English Channel have no choice but to now fully prepare for a hard Brexit,” he added. (Reporting by Michelle Martin Editing by Madeline Chambers)

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