ifo Export Expectations Brighter (March 2023)
Sentiment among German exporters has brightened somewhat. The ifo Export Expectations rose to 4.0 points in March, up from 3.5 points in February. “Export demand still lacks some momentum,” says Klaus Wohlrabe, Head of Surveys at ifo. “Global economic development is rather subdued.”
The automotive industry had been very optimistic about international business of late, but now expectations have dampened, with companies predicting only slight growth in exports. This is also true for manufacturers of machinery and equipment. Confidence is high among beverage manufacturers. This marks them out from the food industry, which is expecting little in the way of dynamism. Meanwhile, manufacturers of data processing equipment and electronic and optical products expect to see major increases in exports. The same applies to the clothing industry.
Clemens Fuest
President of the ifo Institute
