The Chambers of Industry and Commerce slashes its exports forecast for the German economy this year 

Association now expects exports to nearly stagnate as a slowing world economy and escalating trade conflicts hurt foreign sales.

Association had forecast export growth in 2019 for 1.2% back in May.

Rising protectionism and a noticeably weakening global economy are burdening Germany's export-reliant economy. 

The US-China trade dispute and tenacious struggle for Brexit are unsettling investors worldwide and clouding the prospects for German producers of capital goods in particular.