Weak global economy: mood of German exporters is deteriorating massively
The weaker world economy is increasingly bothering Germany's exporters. The corresponding index is sinking as low as it has been for six and a half years.
It is the sixth consecutive decline and its lowest level since October 2012: the barometer for export expectations fell to 1.4 points from 7.2 points in March. The Munich Ifo Institute announced on Tuesday to its corresponding survey of 2300 companies.
"The cooling global economy is causing problems for the German export industry," said Ifo President Clemens Fuest. Especially in the auto industry, the prospects are murky. "Export declines are expected," Fuest continued. The same applies to the metal industry.
Although no increase in exports is expected in mechanical engineering, there are no declines. "The chemical industry is still well positioned in international business," said the Ifo boss. "She looks forward to further orders." Growth is also expected in the electrical industry.
German industry currently has enough cause for concern. The trade dispute between the two largest economies, the US and China, fuels fears of a global downturn. In addition, there is the risk of a hard Brexit, which could disturb the goods traffic sensitive: Great Britain is one of the most important buyers of products "Made in Germany".