MUNICH: German manufacturers’ expectations in export growth fell notably in April compared to last month, research group Ifo institute reported here on Tuesday.
The outlook value fell to 4.0 balance points in April from 6.3 balance points in March, the think tank said.
“The flagging dynamic in the world economy is continuing to curb growth in German exports,” Ifo president Clemens Fuest noted.
According to the report, companies in the automotive sector were far more pessimistic than last month and expect their exports to stagnate. Meanwhile, companies in the paper and printing sector were not expecting forthcoming increases in exports, either.
Only companies in the chemicals industry reported a clear improvement over last month, with their export expectations at the highest level since December 2014.
The Ifo business climate index is considered the most important barometer for the German economy.
