Ifo export expectations fall

This is the release of the German Ifo Institute on export exp[ectations:

Sentiment among German exporters weakened markedly. The Ifo Export Expectations for manufacturing fell to 8.7 balance points in December from 12.2 balance points in November. German exporters are beset by fears of a hard Brexit.

Electrical goods manufacturers and mechanical engineering firms reported a far less positive export outlook. Metal processing firms and clothing and textiles manufacturers also expect to receive fewer orders from abroad. Automotive manufacturers are slightly more optimistic about the next three months and expect foreign revenues to rise slightly. The furniture industry also remains very strongly positioned in international markets.