The forecast of the Association of Chambers of Commerce and Industry of Germany for the growth of the German economy in 2018 has been lowered to 1.8% from the previously expected 2.2% against the background of the strongest decline in German business expectations in 4 years. Companies are concerned about the shortage of skilled workers and the slowdown in export growth. Among the negative factors, they also point out labor costs, high energy and commodity prices, and trade disputes, especially between the US and China. Only 22% of the 27,000 German companies that took part in the survey expect improvements in the next 12 months.
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