ifo Export Expectations Rise (October 2019)
Sentiment among German exporters has become noticeably brighter. The ifo Export Expectations in manufacturing rose to −1.2 balance points in October, up from −5.3 balance points in September. Despite continuing uncertainty surrounding Brexit, some German exporters are once again optimistic concerning the coming months.
The increase was mainly attributable to companies in electrical engineering. However, this does not yet mean optimism, but rather noticeably less pessimism. The same is true in the automotive sector. After the setback last month, companies in the chemical industry are expecting a significantly higher number of orders from abroad. Food and beverage manufacturers are also expecting a noticeable increase in exports, while the export market for the metal industry remains difficult.
Clemens Fuest, President of the ifo Institute
