ifo Export Expectations Fall (December 2021)
Sentiment in the German export industry has deteriorated. The ifo Export Expectations fell to 12.1 points in December, down from 15.8 points in November. Nevertheless, exports will probably increase in the first quarter of 2022, albeit at a slower pace.
Expectations in the automotive industry took a substantial hit. While additional international orders are still expected, there will be far fewer of them than was thought in the previous month. The picture is similar for manufacturers of electrical equipment. In contrast, expectations among manufacturers of machinery and equipment improved. Textile manufacturers, food and beverage manufacturers, and printing companies are expecting a slight decline in exports.
Clemens Fuest
President of the ifo Institute
