Economic optimism in Germany is slipping in light of international trade conflicts and a cooling global economy.
In a survey conducted by the German Economic Institute (IW), 21 of 48 trade associations rated the present situation as worse than the year before. At the last turn of the year, only two had done so.
Scepticism has grown particularly among export-oriented industrial companies. The construction industry and consumer-related sectors such as the hospitality industry are, on the other hand, benefiting from the robust domestic economy.
The survey found that 28 associations expect production increases. At the 2017/2018 turn of the year, it had been 33. The number of associations with poorer business prospects rose from two to 10. Another 10 expect production or revenue levels to remain the same.
On the whole, the optimists still constitute a clear majority, according to the IW, which has close links to employers. The German economy is expected to keep growing in 2019.
"But the momentum should be noticeably lower than this year," IW director Michael Huether told dpa.
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