ifo Export Expectations Much Improved (September 2020)
A seed of optimism has sprouted among German exporters. In September, the ifo Export Expectations in manufacturing rose from 5.5 points to 10.4 points. This is its highest value since October 2018. The upswing in industrial production in many important buyer countries is benefiting Germany’s export industry.
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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 major leaps forward for the time being; companies there are being somewhat cautious. Manufacturers of clothing, leather goods, and shoes are expecting significant losses in exports.
Clemens Fuest
President of the ifo Institute
ifo Export Expectations for Manufacturing
(Balances, seasonally adjusted)
| 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | |
| Expectations |
Source: ifo Business Survey.
© ifo Institute
