The German Institute for Economic Research (Ifo) reported that German exporters’ sentiment fell for the third consecutive month in August 2022, due to high gas prices and the weak global economic environment affecting the economic outlook.
Ifo exporter expectations fell to -2.7 points in August, following -0.4 points in July.
While most of the industry expects exports to decline, automotive manufacturers and suppliers are expected to show significant growth. The apparel industry and the manufacture of data processing equipment are also expected to increase their foreign sales.