German export sentiment drops to -5.6 points: ifo

The majority of industries expect exports to decline over the next three months. Only clothing manufacturers predict significant growth, according to the ‘ifo Business Survey, June 2023’ conducted by the ifo Institute.

“In addition to weak demand on the German domestic market, we’re now also seeing fewer orders from abroad. This is bad news for Germany’s export economy,” said Klaus Wohlrabe, head of surveys at ifo.

ALCHEMPro News Desk (NB)