Germany’s Export Expectations Drop Considerably (September 2023)
Sentiment in the German export industry is markedly worse. The ifo Export Expectations fell to -11.3 points in September, down from -6.5 points in August. “Germany’s export economy is going through a weak phase,” says Klaus Wohlrabe, Head of Surveys at ifo. “Exports to all key regions are currently in decline.”
At the present time, only manufacturers of leather goods and furniture, as well as a handful of food companies, expect a rise in exports. All other sectors are predicting a drop in international business. The hopes for growth expressed last month in the chemical industry have evaporated. Automakers are now more skeptical as well. Printing companies are currently the most pessimistic. “It’s likely that export demand won’t pick up again significantly until next year,” Wohlrabe adds.
