ifo Export Expectations Fall (October 2021)
Sentiment in the German export industry has taken a significant hit. In October, the ifo Export Expectations fell to 13.0 points, down from 20.5 points in September. This is its lowest value since February 2021. Supply problems in intermediate products are now having an impact on manufacturing exports.
Download
In the electrical and electronics sector, export expectations have softened but remain at a high level, with companies continuing to expect good international business. However, the mood is bleaker in the chemical industry, where growth rates will be significantly slower. The situation is similar for the automotive industry. In the food and furniture industries, exports are expected to remain constant. The textile and leather industries are now preparing for declining international sales.
Clemens Fuest
President of the ifo Institute
ifo Export Expectations for Manufacturing
(Balances, seasonally adjusted)
| 10/20 | 11/20 | 12/20 | 01/21 | 02/21 | 03/21 | 04/21 | 05/21 | 06/21 | 07/21 | 08/21 | 09/21 | 10/21 | |
| Expectations |
Source: ifo Business Survey.
© ifo Institute
