ifo Export Expectations for Germany Fell (August 2021)
Sentiment among German exporters has markedly deteriorated. ifo Export Expectations in manufacturing slumped to 16.6 points in August, down from 23.1 points in July (seasonally adjusted). The German export industry is losing momentum.
Export expectations in the electrical and electronics industry took a clear dip. International sales are still expected to rise, but less strongly. Expectations in the food industry also dropped significantly, as companies there tend to expect stagnating sales. The same applies to the furniture industry, where the euphoria of the past three months has evaporated. In contrast, the automotive industry expects greater activity in its international business. Companies in the paper industry are also once again optimistic.
Clemens Fuest
President of the ifo Institute
