Press release -
ifo Export Expectations Much Worse (October 2020)
Optimism among German exporters has suffered a setback. In October, the ifo Export Expectations in manufacturing fell from 10.3 points to 6.6 points. Rising infection numbers around the world are cause for increasing concern in the export industry.
The food and beverage industry expects its exports to decline, and manufacturers of textiles and clothing are not happy with the development of their international markets either. In contrast, expectations among manufacturers of electronic and optical devices took a clear leap upward, and the chemical industry also expects international sales to climb. The indicator rose to its highest level since December 2018.
Clemens Fuest
President of the ifo Institute
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