ifo Export Expectations Fall (July 2022)
Sentiment among German exporters has darkened again. The ifo Export Expectations fell to minus 0.5 points in July, down from plus 3.4 points in June. Positive and negative responses are currently in balance. The gas shortage is putting a strain on German exports.
Manufacturers of data processing equipment and electronic and optical products expect to see major increases in exports. The beverage industry, too, is confident that its international sales will increase. Automotive companies and manufacturers of machinery and equipment expect moderate growth. However, there is growing skepticism about export markets in the chemical industry and among food manufacturers. Printing houses and manufacturers of rubber and plastic goods expect their international sales to decline. Furniture manufacturers are more pessimistic as well.
Clemens Fuest
President of the ifo Institute
