German chemical exports expected to fall

Recently, the German Ifo Institute for Economic Research (Ifo) stated that German chemical companies are once again pessimistic about export prospects. In February, the Ifo export expectations index fell to 3.8 points overall, down from 4.1 points in January.

In this regard, Ifo said: "The German chemical industry once again finds itself disillusioned. After an optimistic start to the year, German chemical companies now expect their export business to remain stable rather than to grow. The same applies to German food and beverages. Manufacturers. In the metals sector, skepticism is noticeably less; however, international sales are yet to show signs of turning around.” According to Ifo, export expectations for Germany’s other petrochemical downstream sectors, such as automobiles, machinery and furniture, were lower in February. However, ifo president Clemens Fuster concluded: "Overall, weak global demand is still dampening hopes for German exports for now."

The Ifo export forecast is compiled based on monthly reports from around 2,300 manufacturers. Businesses are asked to report their export expectations for the next 3 months, which they can describe as "increased", "unchanged" or "decreased".