The sentiment among exporters in Germany saw a marked improvement in October. According to Ifo predictions, exporter expectations climbed to 12.2 points, up from 9.0 points recorded in September. This measurement represents the highest level since February 2022.
Klaus Wohlrabe, Head of the Ifo surveys, noted that the automotive industry, in particular, significantly revised its export outlook upward. He added that signs of export growth are also present across many other industrial sectors. After a noticeable decline in September, car manufacturers are now anticipating an increase in exports once again.
Manufacturers in machine building remain optimistic, and confidence is notably high among producers of electrical equipment, data processing devices, electronic, and optical goods. Forecasts for metal production and processing have also improved. Furthermore, the beverage industry expects a strong exporting period. In contrast, companies in the chemical industry and in paper manufacturing anticipate a downturn in exports during October.
