ifo Export Expectations Rise Considerably (June 2020)
Sentiment among German exporters has recovered markedly. In June, the ifo Export Expectations for manufacturing rose from minus 26.7 points to minus 2.3 points - an unprecedented rise within one month. German industry is embarking on the road to recovery.
In the automotive industry, the previous month’s clear upward trend continued. Manufacturers expect a significant increase in exports in the coming months, as does the pharmaceutical industry. The other sectors do not yet expect any export growth, but the mood has brightened considerably. Companies in the chemical industry assume that exports will remain constant. However, the electrical and mechanical engineering sectors still expect international sales to decline. These will be weaker than in the previous months..
Clemens Fuest, President of the ifo Institute
