ifo Export Expectations Fall (June 2024)

Sentiment in the German export industry has deteriorated slightly. The ifo Export Expectations fell to -1.0 points in June, down from +0.2 points in May. “No clear direction is currently emerging,” says Klaus Wohlrabe, Head of Surveys at ifo. “The export economy still has plenty of room for improvement.”

Manufacturers of computers and electronic products are expecting a significant increase in export business. The furniture industry is also confident about future exports. Beverage manufacturers expect additional orders, but are somewhat less optimistic than in the previous month. Mechanical engineering and electrical equipment manufacturers expect export business to remain constant, as do the chemical industry and automakers. The metal industry is rather pessimistic about foreign business. It expects a decline in orders.