DIHK Cautious About Economic Recovery

Germany's economic recovery is likely to slow in the coming months as worldwide growth slackens, according to the German Chambers of Industry and Commerce (DIHK). The group's head economist, Axel Nitschke, told the Berliner Zeitung newspaper on Thursday that in particular decreasing demand in the United States would weigh on Germany's export-led economy. "The impulses from the world economy are slowing noticeably and that will have a negative effect on the German export sector," Nitschke said. He added that German domestic demand was likely to pick up by the end of the year, but that will be offset by the decreasing demand for German goods abroad. "We are therefore cautious about the continuing course of the recovery in Germany," Nitschke said.