German industry is confident about the future – Ifo export expectations are rising. Two areas in particular are expecting higher export sales.
The mood in the German export industry has noticeably brightened. Ifo export expectations rose from minus 7 points in February to minus 1.4 points in March.
“World trade is likely to pick up in the coming months,” said Ifo survey director Klaus Wohlrabe. “The German export industry hopes to benefit from this.” The food industry and beverage manufacturers in particular are expecting higher export sales. The mood in the auto industry has also turned positive. “Even the chemical industry is once again optimistic about the future in March,” said the Munich economic researchers. In mechanical engineering, however, the prospects remain cautious. The textile industry and metal producers and processors are expecting a decline in exports.
Source: Stern
