German exporter sentiment at lowest since May 2020

High-rise buildings in the city’s financial district disappear into clouds as the spread of the coronavirus disease (COVID-19) continues during an extended lockdown and a demand from the German government for more office opportunities in home in Frankfurt, Germany, February 2, 2021. REUTERS/Kai Pfaffenbach/

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BERLIN, Sept 27 (Reuters) – German exporter sentiment fell in September to its lowest level since the early stages of the COVID-19 pandemic as a slowing global economy dampened any expectations for medium-term growth, the Ifo economic institute said on Tuesday. .

Export expectations fell to -6.0 in September from -2.8 in August, the lowest since May 2020, it said.

“Export expectations are negative in most manufacturing industries,” Ifo President Clemens Fuest said, although beverage producers are trending optimistic again and the auto industry expects exports to rise in the fourth quarter.

Exports from Europe’s biggest economy fell 2.1% in July from the previous month, hit by falling demand from Germany’s two main trading customers, China and the United States.

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Reporting by Miranda Murray; Editing by Clarence Fernandez

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James R. Rhodes