The Bundesbank estimated on Monday that Brexit should have limited economic impact in Germany. It finds that business leaders in Germany remain confident.
In its monthly report, the German central bank (Buba) added that the country’s economy is expected to have continued to grow during the summer due to exports, industrial production, construction and household consumption.
“In the context of the public debate nourished on the economic consequences of the announced exit from the UK to the EU, the favorable expectations of German companies have so far been only moderately challenged,” says Buba.
“This reinforces the view that the economic consequences of the vote in Brexit of Germany will be limited in the short term at least. ”
German growth slows anyway
The gross domestic product (GDP) grew by German 0.4% in the second quarter according to preliminary estimates released Friday . If it is lower than that recorded in the first three months of the year, this figure puts Germany well ahead of other major economies of the euro area.
Economic growth slowed in the second quarter in the euro area, including a stagnation in France, the second block of the economy, showed data released Friday by Eurostat, the European statistical institute.