2019.02.2505:11:00UTC+00German Manufacturers' Export Expectations Improve In February: Ifo

German exporters' business confidence improved modestly in February, after weakening in the previous four months, despite a difficult global economic environment, survey results from the Munich-based Ifo Institue showed on Monday.

The ifo Export Expectations in manufacturing for the next three months climbed to 7.2 balance points in February, from 6.0 balance points in January.

The index is based on around 2,700 monthly reports from manufacturers. The reading had peaked at 14.8 in September. "The tariff threats of the US government are currently having no negative impact on the automotive industry's export expectations," Ifo President Clemens Fuest said. However, firms are clearly reserved in their assessments of the current situation and are anticipating neither an increase nor a decline in exports at the moment, he added.

By contrast, the food and beverage industry is expecting significant growth in foreign business, Fuest noted.

In the mechanical engineering sector, the export momentum has leveled off considerably in recent months, with expectations of hardly any additional orders from abroad.