ifo Export Expectations Fall Slightly (February 2023)
Sentiment among German exporters has worsened somewhat. In February, the ifo Export Expectations slipped to 3.8 points, down from 4.1 points in January. Weak global demand is currently dampening hopes for German exports.
Once again, the chemical industry finds itself disillusioned: after a promising start to the year, companies now expect their export business to hold steady. The same applies to food and beverage manufacturers. In the metal industry, there was a noticeable drop in the number of skeptical voices; however, an upswing in international sales is not on the horizon. In the furniture industry, export expectations returned to positive territory for the first time since May 2022. This cautious optimism is shared by manufacturers of machinery and equipment. The automotive sector expects its exports to rise.
Clemens Fuest
President of the ifo Institute
