German Export Expectations Fall For First Time In 3 Months

Posted by African Examiner Latest Headlines, World News Thursday, April 25th, 2024

(AFRICAN EXAMINER) – Sentiment among Germany’s exporters has weakened in April after a strong rebound in the previous month amid sluggish demand, survey data from the Munich-based ifo Institute for economic research showed Thursday.

The ifo export expectations fell to 2.0 points in April from 1.2 points in March.

“The mood is somewhat subdued.

“The export economy lacks momentum at present,’’ Klaus Wohlrabe, head of Surveys at ifo said.

“While the global economy offers many good prospects for growth, these aren’t yet being reflected in additional orders,’’ Wohlrabe added.

The ifo survey found that computer manufacturers in Germany were looking forward to a significant increase in export business.

Exports expectations among manufacturers of furniture and of glass and ceramics were also strong.

Meanwhile, expectations in the food industry damped significantly after a rebound in the previous month.

Similar trends were seen in the automotive industry.

Manufacturers of machinery and equipment were seeing a steady rise in exports, while the textile industry, printers, and basic metals manufacturers are expecting them to decline, the ifo said.