ifo Export Expectations Somewhat Brighter (December 2020)
Sentiment among German exporters has brightened somewhat. The ifo Export Expectations for manufacturing rose in December from minus 1.0 to plus 1.4 points. Germany’s export industry is cautious regarding the first quarter of 2021, as there are still too many uncertainties clouding the outlook, such as the unresolved Brexit deal.
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Manufacturers of electrical equipment, however, are very optimistic about their export business. Machinery and equipment manufacturers and the chemical industry are also expecting their international sales to rise. At the moment, the automotive industry is enjoying steady export business. The international market will remain difficult for Germany’s food industry and its manufacturers of clothing and textiles; these sectors expect orders for exports to decline.
Clemens Fuest
President of the ifo Institute
ifo Export Expectations for Manufacturing
(Balances, seasonally adjusted)
| 12/19 | 01/20 | 02/20 | 03/20 | 04/20 | 05/20 | 06/20 | 07/20 | 08/20 | 09/20 | 10/20 | 11/20 | 12/20 | |
| Expectations |
Source: ifo Business Survey.
© ifo Institute
