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Trump And Brexit Not Affecting German Economy, Ifo Economist Says

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By Reuters

MUNICH, GERMANY (FEBRUARY 22, 2017) (REUTERS) VARIOUS EXTERIORS OF IFO INSTITUTE IFO ECONOMIST KLAUS WOHLRABE WALKING PAST CAMERA (SOUNDBITE) (German) IFO ECONOMIST, KLAUS WOHLRABE, SAYING: "The 7000 businesses that we survey every month have said that they are doing very well. The German economy is doing well and the Ifo business climate index is up." IFO INSTITUTE PANEL IFO LOGO (SOUNDBITE) (German) IFO ECONOMIST, KLAUS WOHLRABE, SAYING: "You can also say that the fact that two factors are not having any impact is a factor. For one there is no Trump-effect. The German economy has so far shown itself impervious to the rhetoric of the U.S. president. And also it has been much discussed whether the Brexit negotiations will have an impact. This has not been the case. It shows that the export industry is very strong and despite all the talk remains a strong pillar of the German economy this year. Consumption is also very stable." VARIOUS OF IFO GRAPH AND HANDOUT (SOUNDBITE) (German) IFO ECONOMIST, KLAUS WOHLRABE, SAYING: "So you can also say that the German economy is showing itself to be very robust despite political uncertainty. This political uncertainty is not spilling over into the economy at the moment which is a very good sign of the health of the German economy." VARIOUS OF IFO GRAPHS (SOUNDBITE) (German) IFO ECONOMIST, KLAUS WOHLRABE, SAYING: (ABOUT OPEL) "Yes this is of course a big topic at the moment, the fact that large takeover negotiations are being conducted. But a look at our automobile industry has shown no ill effects. It has stayed almost unchanged. We have to see if it will have a general impact on the automobile market in Europe but at the moment the automobile industry in Germany is doing very well."
Dateline: 2017

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