German Export Expectations Rise (May 2024)
Sentiment in the German export industry has turned brighter. The ifo Export Expectations rose from minus 1.5 in April to plus 0.3 points in May. “Positive and negative responses are in nearly perfect balance,” says Klaus Wohlrabe, Head of Surveys at ifo. “The export economy is not yet developing any great momentum overall.”
Beverage manufacturers are expecting a significant increase in export business, as are manufacturers of furniture and of glass and ceramics. The mood was particularly subdued among data processing equipment manufacturers, who were unable to maintain their highly optimistic expectations from the previous month. There is currently little movement among manufacturers of machinery and equipment or in the automotive segment. The textile and clothing industry, printers, and the metal industry are expecting their exports to decline.
