Export expectations of German companies improved

ifo: Significantly more manufacturers from the chemical industry believe their sales abroad will increase in the fourth quarter

A seed of optimism has sprouted among German exporters, show the results of the ifo Business Survey for September. It indicates that this month the export expectations in manufacturing rose from 5.5 points to 10.4 points, which is its highest value since October 2018.

The upswing in industrial production in many important buyer countries is benefiting Germany’s export industry, commented Professor Clemens Fuest, President of the Munich-based ifo Institute.

He pointed out that in the chemical industry significantly more companies expect their exports to increase in the fourth quarter.

The same goes for manufacturers of electrical equipment. The automotive industry is also predicting sales growth abroad, but the mechanical engineering sector does not expect any m, said Professor Fuest.

According to the study, manufacturers of clothing, leather goods, and shoes are expecting significant losses in exports.

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