ifo Export Expectations Decline Slightly (August 2020)
German exporters have become somewhat more cautious. In August, the ifo Export Expectations in manufacturing decreased from 7.5 points to 5.1 points. The German export industry is doing relatively well in view of the difficult economic situation in many buyer countries.
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After a very strong increase in the previous month, export expectations in the automotive industry have fallen. However, manufacturers are still planning on significant growth. The chemical industry also suffered a setback. Manufacturers of machinery and equipment appear to have overcome the export crisis and are not expecting further declines for the time being. Greater optimism regarding international business was evident in the electrical industry and among manufacturers of metal products.
Clemens Fuest
President of the ifo Institute
ifo Export Expectations for Manufacturing
(Balances, seasonally adjusted)
| 08/19 | 09/19 | 10/19 | 11/19 | 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | |
| Expectations |
Source: ifo Business Survey.
© ifo Institute
