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Updated February 26th, 2024 at 13:00 IST

Germany’s export sentiment improves in February

The study highlighted persistent export challenges for car manufacturers and the metal sector.

Reported by: Business Desk
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Flag of Germany | Image:Pixabay
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German exports improve: German export sentiment improved in February, although only a few sectors anticipate an uptick in exports, as per a survey conducted by the Ifo economic institute published on Monday.

The institute reported that the export expectations indicator for February climbed to minus 7.0 points, up from January's minus 8.5 points. 

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Klaus Wohlrabe, head of surveys at Ifo, noted that despite the uptick, the German export industry is yet to fully capitalise on global economic trends, suggesting ample room for improvement.

While the food industry and glass/ceramics manufacturers maintain positive export forecasts, mechanical engineering expectations dipped to their lowest point since June 2020. 

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The study highlighted persistent export challenges for car manufacturers and the metal sector.

In 2023, German exports declined 1.4 per cent, attributed to the global economy grappling with various challenges, including high inflation, rising interest rates, and international crises.

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(With Reuters Inputs)

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Published February 26th, 2024 at 13:00 IST

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