Recent data indicates a cooling in sentiment within Germany’s export-oriented industries. A survey released Tuesday by the Munich-based Ifo Institute revealed a decline in exporter expectations, falling from -0.3 points in July to -3.6 points in August.
Klaus Wohlrabe, head of the Ifo surveys, noted a growing sense of realism within the export sector. While acknowledging that recently announced U.S. tariffs of 15% were lower than initially feared, he anticipates these duties will still contribute to a slowdown in export growth.
Food producers experienced a particularly noticeable downturn in outlook, with expectations for future exports diminishing significantly. Companies involved in the production and processing of metals also forecast declining international sales. The engineering and data processing sectors currently exhibit little change in projections, remaining relatively stable.
However, some areas of the export landscape are demonstrating cautious optimism. The chemical industry anticipates increased export volumes, a trend shared by furniture manufacturers and producers of electrical equipment. These sectors suggest a degree of resilience despite wider concerns across the German export economy.