Economic Buzz: German Export Expectations Index Falls In September

27 Sep 2022 , 03:12 PM

Confidence among German exporters deteriorated further in September to reach its lowest level in more than two years and the trend is likely to continued amid a slowdown in the global economy, survey results from the ifo Institute showed. The ifo Export Expectations index slipped to -6.0 points from -2.8 points in August. This was the lowest score since May 2020. The index fell for the fourth month in a row. Export expectations fell across all manufacturing industries. The chemical and furniture manufacturers indicated the most negative expectations. For the next three months, the metal industry has become considerably more pessimistic about exports. Meanwhile, beverage and automotive manufacturers expect a rise in exports in the coming months.Powered by Commodity Insights