German export sentiment improves in November – Ifo

(Reuters) – Sentiment among German exporters improved in November, although only a few sectors expected exports to increase, according to a survey by the Ifo economic institute released on Monday.

The institute’s export expectations indicator rose to minus 3.8 points in November from minus 6.3 points in October.

“However, the export economy still isn’t managing to develop any momentum,” Klaus Wohlrabe, head of surveys at Ifo, said.

“German companies have yet to benefit much from the economic upswing in many countries,” he added.

While the food industry and clothing manufacturers forecast export growth, the automotive industry expects exports to remain stable and manufacturers of machinery and equipment and of electrical goods anticipate a downturn in international orders, the study said.

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