> German trade association cuts export forecast to 3% from 5% prior

German trade association cuts export forecast to 3% from 5% prior

Monday, 29/04/2013 | 08:34 GMT

Cuts Imports forecast to 1% from 5.5% (Nov f’cast)
Concerned about situation in Italy as they do not seemed interested in structural reform
Trade won’t contribute as usual to growth in 2013. Sees economy expanding between 0.7% & 0.8%

The news is sending the euro lower and down towards 1.3080.

The BGA is the Federation of German Wholesale, Foreign Trade and Services. It is the leading organization for the wholesale, foreign trade and service sector in the Federal Republic of Germany.