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Sentiment among German exporters at its lowest since May 2020

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BERLIN — Sentiment among German exporters fell in September to its lowest since the early stages of the COVID-19 pandemic as the slowing global economy dampens any expectations of growth in the medium term, the Ifo economic institute said on Tuesday.

Export expectations dropped to -6.0 in September from -2.8 in August, the lowest since May 2020, it said.

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“Export expectations are negative in most manufacturing industries,” said Ifo President Clemens Fuest, although beverage producers are tending towards optimism again, and the automotive industry expects a fourth-quarter rise in exports.

Exports from Europe’s largest economy decreased 2.1% in July from the previous month, hit by sinking demand from Germany’s two most important trade customers, China and the United States. (Reporting by Miranda Murray; Editing by Clarence Fernandez)



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