ifo Export Expectations Rise (May 2022)
Sentiment among German exporters has brightened. The ifo Export Expectations rose from plus 3.0 in April to plus 4.5 points in May. But German manufacturers remain cautious, and logistics problems continue to be a considerable burden. There are no signs of any major changes in exports at this time.
The automotive industry’s export prospects, recently very pessimistic, have recovered. However, automakers are currently not expecting any sizable growth in international sales. Manufacturers of electrical equipment are expecting exports to continue to grow steadily, while manufacturers of machinery and equipment are cautiously optimistic about their international business. Food manufacturers are expecting a slight decline in exports over the next three months. The same is true for the textile industry.
Clemens Fuest
President of the ifo Institute
