Export expectations of German companies slightly higher
According to a survey by the Ifo Institute, the mood among German export companies has improved slightly. The index calculated by Ifo rose to minus 3.8 points in November, from minus 6.3 points in October. However, the export economy is still unable to develop any momentum, explained Klaus Wohlrabe, head of the Ifo surveys. A greater participation in the economic upturn in many countries is still pending.
According to the survey, only a few sectors are expecting an increase in exports in the coming months. These include companies in the food industry and clothing manufacturers. In the automotive industry, positive and negative responses roughly balance each other out, according to Ifo.
Companies in the mechanical engineering and electrical engineering sectors, on the other hand, expect a decline in orders from abroad, according to the survey. Printers are the most pessimistic, according to Ifo.
The Ifo survey indicated that despite the improved export expectations of German companies, sectors like mechanical engineering and electrical engineering anticipate a decrease in foreign orders. The food industry and clothing manufacturers, however, expect an increase in exports, as mentioned in the survey.
Source: www.ntv.de
