The mood within Germany’s export economy has recently seen a marked improvement. The Ifo Export Expectations rose in August to 9.6 points, up significantly from -2.8 points recorded in July. This figure represents the highest level since February 2022 and marks the strongest increase recorded since June 2020.
Klaus Wohlrabe, head of the Ifo surveys, commented on the trend, stating that the export sector is “picking up speed.” He noted that exports to the EU are particularly booming, while shipments to China continue to weaken.
Optimism remains very high among producers of electrical equipment, as well as manufacturers of data processing devices and electronic and optical products. This optimism is possibly driven by the increasing digitalization of the economy and significant investments in AI. The automotive industry is also viewing its export prospects with increased confidence, and new optimism is emerging even among manufacturers of metal products. However, some sectors anticipate a downturn, specifically the paper industry and companies involved in metal production and processing.
