ifo Export Expectations Rise (June 2021)
Sentiment among German exporters improved significantly in June, with the ifo Export Expectations in manufacturing rising to 26.0 points from 22.5 points in May. This is its highest level since January 2011. One factor benefiting the export industry is the global catch-up effects owing to the coronavirus crisis.
Nearly all industries are expecting exports to rise, except for clothing manufacturers, which expect their international sales to decline. After a setback last month, export expectations in the automotive industry recovered; the same applies to food and beverage manufacturers. The electrical and electronics industry and manufacturers of machinery and equipment are still in a very good position. In the chemical and furniture industries, however, the increase in international orders will be somewhat smaller than recently.
Clemens Fuest
Präsident des ifo Instituts
