The German economy will probably grow by around 2.25 percent in 2018, the president of the BDI industry association said on Thursday, adding that he did not see any real risk of overheating.
BDI President Dieter Kempf said, according to the text of a speech he was due to give, that the main risks for Europe’s largest economy emanated from abroad.
These included Britain’s looming departure from the European Union and U.S. President Donald Trump’s tax reform – which slashes the U.S. corporate tax rate to 21 percent from 35 percent. Kempf said that would “massively” increase tax competition.
Source: Reuters (Reporting by Gernot Heller; Writing by Michelle Martin; Editing by Madeline Chambers)