Press release -
ifo Export Expectations Rise (July 2020)
Cautious optimism is spreading among German exporters. The ifo Export Expectations for manufacturing rose in July from minus 2.2 points to plus 6.9 points. German exports are benefiting from the economic recovery in many countries.
One of the biggest winners was the car industry. After a few very difficult months, it is now likely that the export business will get going again. Confidence has also returned to the electronics and chemical industries. Pessimism in the mechanical engineering sector has decreased noticeably, but sales are not yet expected to rise. Meanwhile, the export market remains difficult for the clothing and leather goods industry.
Clemens Fuest, President of the ifo Institute
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