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Weekly Export Risk Outlook, April 30
Uncertainties related to elections in the United Kingdom will drag down on the British economy in the second quarter, while the economic sentiment stabilized in Germany, Euler Hermes noted in this week's Export Risk Outlook report.
The economic growth in the UK slowed down in the first quarter, with a positive contribution from services, but weaker activity in constructions and manufacturing industry, Euler Hermes analysts wrote in this week's report.
Lower investments because of uncertainties related to the elections will dampen the GDP gwoth in the second quarter, the report noted."This will result in lower than expected GDP growth (+2.2% in 2015)."
The report also noted that the business sentiment and consumer confidence improved in Germany's April readings, despite a small decrease in the manufacturing output index. "All in all, these surveys indicate stabilization after the rebound from the low in economic sentiment in autumn 2014 and support Euler Hermes' forecast of +1.7% real GDP growth in 2015."
See other information about the European and global economies, in the full report.