The mood among German export companies improved in May despite supply chain problems in the industry.
According to a survey by the Ifo Institute, the export expectations index rose to 4.5 points from 3 points in April.
A statement added that German companies remained cautious and “logistics problems continue to be a significant burden”.
The institute found no signs of major changes in Germany’s extremely important export activity.
In the German car sector, export prospects recovered in May but the automakers did not expect any significant increase in international sales, Ifo said.
Electrical equipment companies expected exports to continue to grow gradually, while machinery and equipment manufacturers were cautiously optimistic about their international operations.
Source: Capital
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