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German manufacturers estimate chance of hard Brexit at 43 pct: survey
Last Updated: 2019-01-10 17:15 | Xinhua
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German manufacturers estimate the chance of hard Brexit at 43 percent on average, a survey showed on Wednesday.

Germany's Ifo Institute has surveyed about 1,300 manufacturers in December 2018, asking for their responses of probability of a hard Brexit ranging from 0 to 100 percent.

"A great deal of uncertainty nevertheless continues to cloud the issue," the survey noted.

There was very little difference in assessments across individual sectors of German manufacturing. Company size did not influence assessments much either, it showed.

Forty percent of surveyed manufacturers believed that their sales would not be affected by a no-deal Brexit at all. 60 percent said they would be affected, but on a manageable scale.

Furthermore, 70 percent of those manufacturers, who expect to be affected by a hard Brexit, stated that their sales would dip, while 28 percent expect no impact on the sales. Another 2 percent even foresee positive effects.

A vote on a Brexit deal plans to go ahead in the British House of Commons next week.

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