Ifo Institute: German export expectations fall

Brussels – Sentiment in the German export industry has deteriorated. The ifo Export Expectations fell to minus 4.8 points in August, down from minus 2.2 points in July. “Exporters are not currently benefiting from the economic growth in other European countries,” says Klaus Wohlrabe, Head of ifo Surveys. “For the time being, the export industry is not driving growth in the German economy.”

Leather manufacturers and the food and beverage industry expect growth in the export business. The chemical industry and computer manufacturers expect export business to remain stable. For the furniture industry, looking abroad has become noticeably gloomier. After forecasting growth in the previous month, it is now expected to see a decline in orders from abroad. The automotive industry, as well as metal production and processing, expects a decline in international sales.