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Sentiment in the German export industry drops significantly


From 10.3 to 6.6 points: According to the Ifo Institute, German export expectations are falling drastically. The food and textile industries are particularly hard hit, while electronics manufacturers and the chemical industry are anticipating growth.

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Photo: Daniel Bockwoldt / dpa

The corona numbers are rising worldwide, and at the same time the mood in the economy is falling: Now the optimism of German exporters is also suffering a setback.

The Ifo export expectations of industry in Germany fell from 10.3 to 6.6 points in October.

The food and beverage industry is particularly pessimistic about the future and is anticipating declining exports.

The textile industry is also looking at the development of its foreign markets with concern.

Optics and electronics manufacturers, on the other hand, are more optimistic: their export expectations show a clear leap upwards.

The chemical industry is also assuming increasing foreign sales.

The indicator rose to its highest level since December 2018.

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Source: spiegel

All business articles on 2020-10-27

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