Bundesbank Says 'Brexit' To Have Limited Impact On German Economy

(RTTNews) - The surprise U.K. vote to leave the European Union is set to have limited impact on the German economy as business expectations remained strong, Bundesbank said in its latest monthly report on Monday.

Despite the ongoing intense debate on the economic impact of the British vote, the German companies' positive expectations were only slightly dampened, the bank said in the report.

This supports the view that economic impact of the "Brexit" is likely to be within narrow limits, at least in the short term, the bank added.

Citing positive expectations among companies, the bank said exports are likely to continue strong in the third quarter.

The biggest euro area economy grew a better-than-expected 0.4 percent in the second quarter, which was slower than the 0.7 percent expansion in the first three months of the year.