Currently, the manufacturing of leather goods is a rare bright spot, expecting a rise in exports with a score of 11.2 points. Conversely, the manufacture of wearing apparel and textile industries have experienced steep declines in expectations, falling to minus 20.5 and minus 26.8 points respectively. The majority of other sectors are also anticipating a decrease in international business.
“Germany’s export economy is going through a weak phase,” said Klaus Wohlrabe, head of surveys at ifo. “Exports to all key regions are currently in decline. It’s likely that export demand won’t pick up again significantly until next year.”
ALCHEMPro News Desk (DP)
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