International commerce or cross-border exchanges of goods and services between nations - The export-led economic strategy is demonstrating vulnerability.
Germany isn't reaping the rewards of economic expansion in other European regions. The mood has taken a turn for the worse, as Ifo's forecast for export sales plummeted from -2.2 points in July to a harsh -4.8 points in August.
The automotive sector and metal industry foresee a decline in international sales, while the chemical industry predicts steady export numbers. "The export sector is no longer propelling the German economy's growth," asserts Ifo survey head Klaus Wohlrabe.
The economic challenges facing Germany aren't limited to its own territory, as other European countries also experience a downturn. Despite the predicted steady export numbers in the chemical industry, the overall contribution of the export sector to Germany's growth has significantly decreased.
