German exporters show more optimism
As reported by the Ifo Institute, the mood among German exporters is brightening. While Ifo export expectations were still at plus 3.0 points in April 2022, they increased to plus 4.5 points in May.
However, logistics problems continue to weigh on German industry. According to the Ifo Institute, there is currently no great momentum in exports.
In the automotive industry, the export outlook brightened again. However, manufacturers do not currently expect any major increase in foreign sales. By contrast, manufacturers of electrical equipment continue to anticipate ongoing export growth.
In the mechanical engineering sector, exporters are cautiously optimistic. Food manufacturers expect exports to decline slightly in the next three months. According to the Ifo Institute, the textile industry sees things the same way.