ifo Export Expectations Rose Considerably (May 2020)
After a catastrophic April, sentiment among German exporters has recovered somewhat. In May, the ifo Export Expectations for manufacturing rose from minus 50.2 points to minus 26.9 points. Although this sharp increase is unprecedented, companies are still far from optimistic. However, the German export industry does see a silver lining on the horizon.
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Almost all sectors still expect exports to decline. However, this will be less severe than was expected last month. Export expectations rose in almost all key sectors, in some cases significantly. The increase was clearest in the automotive industry, but pessimism has also declined significantly in the electrical sector. In mechanical engineering, despite the improvement, skeptical voices continue to be clearly in the majority. The same is true for metal production and processing.
Clemens Fuest
President of the ifo Institute
ifo Export Expectations for Manufacturing
(Balances, seasonally adjusted)
| 05/19 | 06/19 | 07/19 | 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | |
| Expectations |
Source: ifo Business Survey.
© ifo Institute
