The climate among German export companies has deteriorated slightly in June, according to the Ifo Institute.
Expectations for exports fell to 3.7 points in June from 4.4 points in May. “Logistics problems and a high level of uncertainty are exacerbating the prospects for German exports,” said Ifo’s Clemens Faust.
However, optimism has returned to the automotive industry, which expects growth in international business for the first time since February, Fuest said.
Machinery and equipment, beverage and clothing companies also expect higher exports.
Electrical companies have been hit hard, with their expectations falling to their lowest level since June 2020.
According to Ifo research, furniture manufacturers and printing companies expect their international sales to decline.