Germany: Upswing in ifo Export Expectations (February 2021)
Sentiment among German exporters has improved noticeably. In February, the ifo Export Expectations in manufacturing rose from 7.5 points to 10.7 points. This is its highest value since September 2018. China’s good economic situation and an increase in US production are helping German exporters.
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The chemical industry expects significant export growth, as do manufacturers of machinery and equipment. Automotive manufacturers have put a three-month lull behind them and are once again expecting more orders from abroad. Export expectations among manufacturers of electrical equipment rose to their highest level since February 2018. However, the furniture and clothing industries still face difficulties in the international market, with companies expecting a significant decline in sales.
Clemens Fuest
President of the ifo Institute
ifo Export Expectations for Manufacturing
(Balances, seasonally adjusted)
02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | 12/20 | 01/21 | 02/21 | |
Expectations |
Source: ifo Business Survey.
© ifo Institute