Manufacturing: Export Outlook Very Favourable

Turnover in manufacturing is recovering visibly and has nearly returned to the level seen prior to the financial crisis in 2008/2009. In foreign markets turnover has already exceeded its pre-crisis levels. ifo Business Survey participants also expect exports to develop even more favourably in the future. Overall, confidence in the short-term business outlook grew. With assessments of the current business situation remaining unchanged, this led to a slight increase in the business climate indicator. The number of incoming orders rose and this was reflected in the order backlog and assessments of it. ifo’s survey results revealed that production volumes, which have been high in recent months according to official statistics, will continue to rise over the next few months, although to a slightly lesser extent than recently.