German companies operating abroad are increasingly pessimistic on the outlook for their businesses, according to a survey conducted by the Association of German Chambers of Industry and Commerce (DIHK) and published in Berlin on Tuesday.
Whereas 24 per cent of companies expect conditions to improve, 27 per cent are pessimistic, the survey found.
The DIHK said the number of pessimists had exceeded the number of optimists for the first time in the survey's history.
It attributed the outcome to a cooling global economy and trade conflict between the United States and China.
The negative outlook was particularly marked in industrialized countries, DIHK foreign business head Volker Treier said, predicting a fall-off in demand for German machinery, cars and services.
The DIHK cut its forecast for growth in German exports over the course of 2019 to 1 per cent, against the 2.5 per cent forecast in the autumn of last year.
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