Sentiment in the German auto industry improves

Brussels–German automotive industry sentiment improved in February. The industry’s business climate index rose to minus 34.8 points in February, up from minus 40.1 points in January. “Although the automotive industry is still in crisis, companies are somewhat more optimistic about the coming months,” says Anita Wölfl, an industry expert at Ifo Institute.

Business expectations increased significantly by nearly nine index points to minus 32.8 points. On the other hand, the business situation came in at minus 36.8 points, only slightly better than in January (minus 38.6 points).

“Companies in the automotive industry are slowly starting to fill their order books again,” Wölfl says. According to official data, orders from Germany and the eurozone are the main contributors. In addition, export expectations rose sharply to minus 5.1 points, up from minus 26.1 points in January.