The mood among German exporters improved significantly in October. The barometer for export expectations in the industry remained in negative territory. It climbed from minus 5.3 points in September to a value of -1.2, said the Munich Ifo Institute in view of its corresponding survey of 2300 companies
According to Ifo CEO Clemens Fuest, the increase is primarily attributable to companies in electrical engineering. However, there is still "no optimism, but rather noticeably less pessimism," said Fuest. It is similar in the car industry.
After the setback in the previous month, companies from the chemical industry are again expecting significantly more orders from abroad. The food and beverage manufacturers also expect noticeably increasing exports. "The export market for the metal industry remains difficult," said Fuest.
Trade conflicts, a weaker global economy and uncertainty about Britain's exit from the EU have added to German exports this year. From January to August, exports of goods increased by just 0.4 per cent to almost € 883 billion.
