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Brexit, trade conflicts to slow German growth in 2019 - ministry

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Brexit, trade conflicts to slow German growth in 2019 - ministry
FILE PHOTO: German Economic Affairs and Energy Federal Minister Peter Altmaier addresses the media in Berlin, Germany, July 17, 2018. REUTERS/Fabrizio Bensch   -   Copyright  Fabrizio Bensch(Reuters)
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BERLIN (Reuters) – Headwinds from trade disputes and Brexit will further slow the German economy, Europe’s largest, this year after it expanded at the slowest rate in five years in 2018, the Economy Ministry said on Wednesday.

The economy will grow by 1.0 percent this year, slowing from 1.5 percent in 2018, the ministry said, confirming a slashed 2019 projection reported by Reuters last week.

“The German economy is on a growth path again this year, the tenth in a row,” Economy Minister Peter Altmaier said in a statement.”

“But headwinds, mainly from the international environment, are increasing – the key points being: Brexit, trade conflicts, the international tax environment.”

(Writing by Paul Carrel; Editing by Michelle Martin)

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