Germany’s ifo export expectations fall sharply in August

German export expectations worsened in August, with the Ifo index dropping by 3.6 points to -3.9, down from -0.3 in July.

“Disillusionment is spreading in exports,” said Klaus Wohlrabe, Head of Surveys at the Ifo Institute. “Although the U.S. tariff rate of 15% is lower than feared, it will still weaken export momentum.”

1. Food and beverage producers reported a sharp deterioration in their export outlook.
2. Metal manufacturing and processing companies also anticipate weaker international sales.
3. Mechanical engineering and data processing equipment makers showed little change.
4. By contrast, the chemical industry, furniture manufacturers, and electrical equipment producers remain cautiously optimistic, expecting export growth.