The mood in Germany’s export business has improved again.
In February the Ifo export expectations index rose to +2.6 points, up from -0.8 in January.
Timo Wollmershäuser, the Ifo institute’s chief economist, said the sector is gaining a bit of momentum heading into the new year. “A broadly based, dynamic recovery is still not to be expected” he cautioned.
The most optimistic outlook comes from producers of electronic and optical goods. The automotive industry shows a stable export trade, with expectations rising once more. Food and furniture manufacturers are also moving into positive territory, anticipating higher overseas sales. In the metal sector the indicator has improved, though current forecasts suggest exports remain essentially constant. By contrast, the paper industry, printing sector and chemical industry anticipate declining shipments.
“The recent U.S. tariff decisions create new uncertainty” Wollmershäuser added. “When customs rules shift continuously, it makes planning for businesses more difficult”.