Recent data indicates a cooling in sentiment within Germany’s export sector. A survey released Tuesday by the Munich-based Ifo Institute revealed a decline in export expectations for August, falling from -0.3 points in July to -3.6 points currently.
“A sense of sobering is taking hold within export-oriented industries” stated Klaus Wohlrabe, head of the Ifo surveys. “While the announced U.S. tariffs of 15 percent are lower than initially feared, they are still expected to dampen export momentum.
Food producers experienced a particularly notable downturn in outlook. Export expectations in this sector deteriorated significantly. Companies involved in the manufacturing and processing of metals also anticipate declining foreign sales. The mechanical engineering and data processing equipment industries currently show little change.
However, some sectors demonstrate cautious optimism. The chemical industry anticipates increased exports, a trend also observed within the furniture and electrical equipment manufacturing sectors.
