Sentiment among German exporters saw a slump in April following a robust recovery in March due to lukewarm demand, according to survey data released by the ifo Institute on Thursday. The ifo Export Expectations Index dropped to -2.0 points in April, down slightly from -1.2 points in March.
Klaus Wohlrabe, Head of Surveys at ifo, described the sentiment as somewhat subdued, adding that the export economy is currently lacking momentum. Although the global economy provides several growth opportunities, these are not yet translating into additional orders, said Wohlrabe.
The ifo survey also highlighted that Germany's computer manufacturers are anticipating a considerable boost in export business. Export expectations remained high among manufacturers of furniture, as well as glass and ceramic products.
On the other hand, the food industry saw a noticeable cooling in expectations following a recovery in March, a trend which was also observed in the automobile industry. Makers of machinery and equipment reported a stable increase in exports. However, businesses in the textile industry, printing, and basic metals manufacturing sectors anticipate a fall in exports, the ifo reported.
