German export outlook weakens

As the effect Euro devaluation settled, export forecasts among German businesses have weakened compared to the previous month, the ifo institute reports.

Based on reports among 2700 exporting businesses in Germany, the monthly ifo export outlook index declined from 9.2 to 7.6 basis points compared to the previous month.

ifo president Hans-Werner Sinn stressed that this process is market by significant differences between sectors: “Entrepreneurs in automotive construction, metal processing and the electronics industry anticipate weakened export business throughout the next months while the Chemical, engineering and pharma industry expects stronger profits abroad” he explains.

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