German exporters are somewhat less sceptical about the future, according to a regular survey conducted by the Munich-based ifo Institute, which was published on Monday.
According to the survey, exporters' expectations for the next three months have risen by 1.2 points to 7.2 balance points. This is the first increase after four consecutive declines. In January, the mood barometer fell to its lowest level since April 2016.
"German industry is holding its own in a difficult global economic environment," ifo President Clemens Fuest noted. The US government's tariff threats currently have no negative impact on the export expectations of the automotive industry, he said. However, companies are clearly reserved in their assessments of the current situation. "At the moment neither an increase nor a decline in exports is expected."
According to ifo, the food and beverage industry expects significant growth in foreign sales. On the other hand, in mechanical engineering the export momentum has levelled off considerably in recent months. Hardly any additional orders from abroad are expected.
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