ifo Export Expectations Rise (October 2022)
Sentiment among German exporters has improved a bit. The ifo Export Expectations rose to minus 5.3 points in October, up from minus 6.0 points in September. However, the situation for exporters remains difficult, and the high level of uncertainty is causing a reluctance among international customers to place new orders.
At present, only the beverage industry and manufacturers of electronic devices are expecting significant growth. Automakers, in contrast, have taken a considerable hit: following their recent sunny outlook, they now no longer expect any growth in their international business. The situation remains difficult for energy-intensive sectors such as chemicals, glassware, and metal production, but food exporters foresee their business declining as well.
Clemens Fuest
President of the ifo Institute
