German exporters face declining sentiment, ifo survey finds. (picture alliance/dpa | Christian Charisius)
German industry is struggling to benefit from the economic growth in other European countries, as sentiment among exporters continues to decline, according to the latest ifo Institute survey published on Tuesday.
Export expectations dropped from minus 2.2 points in July to minus 4.8 points in August, it said.
The survey revealed that the automotive and metal industries are anticipating a decline in foreign sales, while the chemical industry expects export levels to remain steady.
Meanwhile, leather manufacturers and the food and beverage industry anticipate growth in export business, it reported.
“Exporters are not currently benefiting from the economic growth in other European countries,” said Klaus Wohlrabe, head of ifo surveys. “For the time being, the export industry is not driving growth in the German economy.”
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