The mood among companies improved noticeably in February, as the Munich-based Ifo Institute reported on Tuesday. After the recent lockdown dip at the end of 2020, the Ifo index of export expectations rose from 7.5 to 10.7 points – better than it has been in almost two and a half years.
The triggers are therefore the well-running economy in China and rising production in the USA.
The world’s two largest economies are the most important buyers of goods “Made in Germany”.
Chemistry and mechanical engineering on the rise
The chemical industry and mechanical engineering expect a significant increase in exports. For the furniture and clothing industries, on the other hand, the foreign market remains difficult: Here, companies assume that sales will decline significantly.
The index is based on a monthly survey of 2,300 industrial companies. According to the Ifo Index, companies are now much more optimistic than they were at the beginning of 2020, before the Covid pathogen spread around the world.