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Brexit is burden for German industry - Ifo economist

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MUNICH (Reuters) – Britain’s expected departure from the European Union is a burden for German industry in particular, an economist at the Ifo institute said on Monday, adding that the global economy was not providing any support.

“Brexit uncertainty is particularly hitting the industrial sector. The other sectors don’t appear to be affected,” Ifo economist Klaus Wohlrabe said.

He said Ifo’s survey – which showed morale in Europe’s largest economy improving in March – supported its forecast that the German economy would grow by 0.6 percent in 2019.

(Reporting by Joern Poltz; Writing by Michelle Martin; Editing by Paul Carrel)

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