A report from the Munich-based Ifo Institute indicates a rise in pessimism within the German export industry as the year begins.
The monthly survey on export expectations has shown a further deterioration, with the indicator falling from -6.1 points in December to -7.3 points in January. This represents the lowest yearly level, with negative outlooks persisting since May 2023.
The export sector has been described as starting the year poorly, as potential tariff increases announced by US President Donald Trump have affected its mood.
Concerns about declining sales abroad are widespread among most sectors, with particularly bleak sentiments reported in the automotive industry. In contrast, only a few sectors, such as furniture manufacturing, anticipate increased exports.
