German manufacturers’ export expectations strengthened in July, survey data from the ifo institute showed Tuesday.
The ifo export expectations index for manufacturing rose to plus 6.9 points in July from minus 2.2 points in June.
Cautious optimism is spreading among German exporters, Clemens Fuest, ifo President said. German exports are benefiting from the economic recovery in many countries.
Expectations among car manufacturers showed strong improvement in July. Confidence also returned to the electronics and chemical industries.
Pessimism in the mechanical engineering sector decreased noticeably, but sales were not yet expected to rise in July.
Nonetheless, the export market remained difficult for the clothing and leather goods industry, the survey showed.
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