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German exporters' business confidence brightens in October

October 28, 2022


Abstract : Business confidence among German exporters improved somewhat in October compared to the previous month, according to a business survey by the Ifo Institute.

Business confidence among German exporters improved somewhat in October compared to the previous month, according to a business survey by the Ifo Institute.

The export expectations index rose from minus 6 points in September to minus 5.3 points in October.

The situation for exporting companies remains difficult, however, Ifo President Clemens Fuest said in Munich. The high level of uncertainty is causing restraint when it comes to new orders from abroad.

Only the beverage industry and manufacturers of electronic equipment expected significant growth.

"In contrast, carmakers have received a significant damper. After a recently optimistic outlook, they now do not expect any growth in foreign business," Fuest said.

The situation remains difficult for energy-intensive sectors such as chemicals, glassware and metal production. Food exporters also expect a decline in exports.

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