ifo Export Expectations Fall (June 2022)
Sentiment among German exporters has worsened slightly. The ifo Export Expectations fell to plus 3.7 points in June, down from plus 4.4 points in May. Logistics problems and a high level of uncertainty are depressing the outlook for German exports.
However, optimism has returned to the automotive industry, which is expecting growth in international business for the first time since February. Manufacturers of machinery and equipment, beverage producers, and clothing manufacturers also expect to export more. Manufacturers of electrical equipment suffered a significant setback, with their expectations falling to the lowest level since June 2020; barely a mention is now being made of export growth. Furniture manufacturers and printing companies expect their international sales to decline.
Clemens Fuest
President of the ifo Institute
