German export expectations tumble as uncertainty rises in March
The Ifo Export Expectations index fell to -0.9 points in March, down from +2.7 points in February. "The war in Iran has noticeably increased uncertainty among exporters," said Klaus Wohlrabe, head of the Ifo surveys. "Many companies fear declining demand in key sales markets."
In contrast, automakers anticipate a significant boost in exports, with the indicator reaching its highest level since June 2020. The furniture, electronics, and beverage industries also expect rising foreign sales. Meanwhile, mechanical engineering, as well as metal production and processing, show little momentum at present.
The paper, printing, and chemical industries continue to brace for declining exports. "How export trends develop in the coming months will depend heavily on how the conflict unfolds," Wohlrabe added.
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