German Export Expectations Fall (July 2024)

Sentiment in the German export industry has deteriorated slightly. The ifo Export Expectations fell to -1.7 points in July, down from -1.3 points in June. “Export demand is currently lacking momentum,” says Klaus Wohlrabe, Head of Surveys at ifo. “There is little evidence of substantial improvement.”

Manufacturers of computers and electronic products and beverage manufacturers expect an increase in export business. The furniture industry also expects international sales to rise, but to a slightly lesser extent than in the previous month. The chemical industry and rubber and plastics manufacturers expect export business to remain constant. The automotive industry is suffering a setback, with fewer exports expected. The same is true for metal production and processing.