The sentiment within Germany’s export economy slightly dampened in September. According to the Ifo Institute, Ifo export expectations dropped to 8.0 points, down from 9.8 points recorded in August, although the majority of companies remain generally optimistic across the board.
Klaus Wohlrabe noted that “the setback is primarily attributable to the automotive industry,” adding that “in many other industrial sectors, indications still point toward export growth.” The automotive sector, in particular, experienced a significant slowdown. Following the optimistic forecasts of August, manufacturers are now anticipating a decline in exports.
In contrast, prospects in the mechanical engineering industry have improved notably. Furthermore, manufacturers of electrical equipment, as well as electronic and optical products and data processing devices, anticipate a rise in outbound shipments. Export expectations are particularly positive within the beverage industry. However, companies in metal production and processing, as well as the paper industry, continue to forecast a decrease in exports.
