German exports fall in May
Monday, 05 31 2021, Category: Economy, Country: Germany
International trade continues to evolve in the fallout of the pandemic, affecting the chemicals industry and related downstream markets.
This weighed on German producers sentiment, according to the latest data from the Ifo Institute on Wednesday, as Ifo Export Expectations for manufacturing fell to 23.0 points in May, from 23.9 a month prior.
Despite this Germany’s export industry remained a key driver for industrial activity.
Expectations in the chemicals industry remain optimistic about export demand in the coming months.
The furniture industry is experiencing an uptick in export orders after several months of struggling with low demand.
Healthy demand was echoed in electrical and electronics industries, as well machinery and equipment manufacturing.
In contrast, sentiment in the automotive industry has fallen significantly with paltry new orders expected from overseas expected in the near term.