Press release -
ifo Export Expectations Continue to Decline
The global trade wars are weighing on the mood of German exporters. The ifo Export Expectations in manufacturing fell to 0.9 balance points in May, down from 1.2 balance points in April. Export momentum continues to weaken.
The mood is particularly bleak in mechanical engineering, where for the first time in over six years, more companies are expecting orders from abroad to decline than to increase. The metal industry is also expecting exports to decline. One bright spot this month was the chemical industry, which saw a return to optimism after slight skepticism in the previous month. The German food industry also continues to see good export opportunities.
Clemens Fuest, President of the ifo Institute
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