27.11.202310:03:00UTC+00German Ifo Export Expectations Rise In November

German export expectations improved in November, survey data from the ifo institute showed Monday.

The ifo export expectations indicator climbed to minus 3.8 points in November from minus 6.3 points in October.

"However, the export economy still isn't managing to develop any momentum," Klaus Wohlrabe, Head of Surveys at ifo said. "German companies have yet to benefit much from the economic upswing in many countries", added Wohlrabe.

The survey showed that exports are expected to improve only in a few industries. While companies in the food industry are optimistic about the months ahead, printing companies remain the most pessimistic.

Clothing manufacturers expect to ramp up their exports. In the automotive industry, positive and negative responses are roughly in balance, the ifo said. Manufacturers of machinery and equipments and of electrical goods expect a fall in international orders.