Germany’s Export Expectations Reach Highest Level Since 2022, Ifo Reports
German Export Industry Sentiment and Outlook
BERLIN, Aug 26 (Reuters) - Sentiment in the German export industry has improved considerably, reaching its highest level since February 2022, the Ifo Institute said on Wednesday.
Ifo Export Expectations Survey Results
Based on a survey of manufacturers, Ifo's gauge on export expectations rose to 9.6 points in August from minus 2.8 points in July.
Key Drivers of Export Growth
Regional Performance
“The export industry is picking up speed,” said Ifo's Klaus Wohlrabe. “Exports particularly to the European Union are booming, while exports to China continue to be sluggish.”
Industry-Specific Optimism
Manufacturers of electrical equipment continue to be very optimistic, as do manufacturers of data processing equipment and electronic and optical products, due to the growing digitalization of the economy and high investments in AI.
The automotive industry and manufacturers of metal products are also far more optimistic about their export prospects, Ifo said.
Challenges in Certain Sectors
By contrast, the paper industry and companies in metal production and processing expect exports to decline, according to the survey.
Reporting Credits
(Reporting by Maria MartinezEditing by Ludwig Burger)
