- Title: German economy unfazed by election of Trump - Ifo economist
- Date: 24th November 2016
- Summary: MUNICH, GERMANY (NOVEMBER 24, 2016) (REUTERS) VARIOUS EXTERIORS OF MUNICH UNIVERSITY'S IFO ECONOMIC INSTITUTE IFO ECONOMIST KLAUS WOHLRABE WALKING DOWN STAIRS IFO SIGN (SOUNDBITE) (German) IFO ECONOMIST, KLAUS WOHLRABE, SAYING: "Right now we are not seeing a huge impact on the result of our poll after Trump's election. After the Brexit vote there was a two-month delay. That's when we noticed an increase in uncertainty. This could happen again, that companies will become more sceptical or more cautious in December. After all, Trump's remarks are very erratic, meaning that we first need to see what is actually implemented from the things he announced during the election campaign." VARIOUS OF IFO NEWS RELEASE (SOUNDBITE) (German) IFO ECONOMIST, KLAUS WOHLRABE, SAYING: "The Ifo business climate index remained unchanged in November. While companies were somewhat happier with their current situation, they slightly reduced their expectations but they continue to be very positive." WOHLRABE'S HANDS WIDE OF WOHLRABE SPEAKING
- Embargoed: 9th December 2016 12:37
- Keywords: Ifo Trump institute outlook Germany December
- Location: MUNICH, GERMANY
- City: MUNICH, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA00159SZHQL
- Aspect Ratio: 16:9
- Story Text: Republican Donald Trump's victory in the U.S. presidential election does not seem to have affected the German economy, Ifo economist Klaus Wohlrabe told Reuters on Thursday (November 24), adding that Europe's largest economy remained on an upward path.
"Right now we are not seeing a huge impact on the result of our poll after Trump's election."
Wohlrabe added that a possible Trump effect could show up later though.
"After the Brexit vote there was a two-month delay. That's when we noticed an increase in uncertainty. This could happen again, that companies will become more sceptical or more cautious in December. After all, Trump's remarks are very erratic, meaning that we first need to see what is actually implemented from the things he announced during the election campaign."
He added that Ifo's business climate index suggested the German economy would expand by 0.5 percent in the fourth quarter, bringing full-year growth to 1.9 percent.
"The Ifo business climate index remained unchanged in November. While companies were somewhat happier with their current situation, they slightly reduced their expectations but they continue to be very positive," said the Ifo economist.
A third of responses in the Ifo survey, which was conducted between Nov. 2 and 23, came after the U.S. election. - Copyright Holder: REUTERS
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