Brexit vote to have 'limited' economic impact on Germany: Bundesbank
German, British and European Union flags fly in front of the Reichstag building in Berlin, Germany July 20, 2016. REUTERS/Hannibal Hanschke
FRANKFURT (Reuters) - Britain's vote to leave the European Union should have limited immediate economic impact on Germany, the country's central bank said on Monday, noting the mood among enterpreneurs remained positive.
The Bundesbank expects the German economy to have continued to expand over the summer, underpinned by exports, industrial production, construction and consumer spending.
"Against the background of an intense public debate about the economic effects of the announced exit of the United Kingdom from the EU, German companies' positive expectations have so far only been modestly dampened," the Bundesbank said in its monthly report.
"This supports the view that the economic consequences of the Brexit vote for Germany will be limited, at least in the short term."
Germany's gross domestic product grew by 0.4 percent in the three months to June, data showed last week.
While this was less than in the first quarter of the year, it still put Germany well ahead of its peers and of analyst expectations.
(Reporting By Francesco Canepa Editing by Jeremy Gaunt)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wall Street ends higher, investors juggle Fed nerves with AI enthusiasm
- Morning Bid: Bank of Japan goes big
- Blinken to visit Middle East this week as US pushes for ceasefire in Gaza
Create E-mail Alert Related Categories
ETFs, Forex, Insiders' Blog, ReutersRelated Entities
Industrial ProductionSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!