ifo Export Expectations Rise Considerably (March 2024)
Sentiment in the German export industry is markedly brighter. The ifo Export Expectations rose to -1.4 points in March, up from -7.0 points in February. “World trade ought to pick up in the months ahead,” says Klaus Wohlrabe, Head of Surveys at ifo, “and German exporters hope to benefit from this.”
Significantly more industries are expecting growth in exports than in the previous month. Food and beverage manufacturers in particular expect their export sales to increase. The mood in the automotive industry has also turned positive. In March, even the chemical industry is optimistic about the future again. Among manufacturers of machinery and equipment, positive and negative prospects are nearly in balance at the moment. The textile industry, printers, and basic metals manufacturers are expecting a decline in exports.
