Title : Sentiment among German exporters at its lowest since May 2020
Sep 27, 2022 02:12AM ET
The Ifo economic institute said Tuesday that German exporter sentiment fell in September to its lowest level since the early stages of the COVID-19 pandemic, as the slowdown in the global economy dampens any medium-term growth expectations.
Export expectations fell to -6.0 in September from -2.8 in August, the lowest since May 2020, he said.
"Export expectations are negative in most manufacturing industries," Ifo president Clemens Fuest said, although beverage producers are trending back to optimism and the auto industry expects a rise in exports in the fourth quarter.
Exports from Europe's largest economy fell by 2.1% in July from the previous month, hit by the collapse in demand from Germany's two most important trading customers, China and the United States.