Sentiment in the German export industry has brightened somewhat. The ifo Export Expectations rose to -7.0 points in February, up from -8.5 points in January. 'The German export economy is hardly benefiting at all from current global economic developments,' says Klaus Wohlrabe, Head of Surveys at ifo.
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'There's still a lot of room for improvement.' Only a few industries continue to expect growth in exports. These include glass, ceramics, and food and beverage manufacturers. Export expectations rose in the electrical and electronics industry, where positive and negative prospects are nearly in balance at the moment. Among manufacturers of machinery and equipment, however, expectations fell to their lowest level since June 2020. Automakers are also experiencing ongoing weakness in exports. The same applies to the metal industry.
More information:
ifo Institute
www.ifo.de