German industrial export expectations reach highest level since start of Ukraine war

German industrial export expectations have risen to their highest level since the beginning of the war in Ukraine. According to the Ifo Institute, expectations increased by 3.2 points to a score of 12.2 in October.

A significant driver of this improvement is the automotive industry, which saw a major upward correction. While expectations for the sector were at minus 15.1 in September, they jumped to plus 12.7 in October. This indicates that the proportion of companies anticipating rising exports is 12.7 percentage points higher than those expecting a decline.

Other sectors also show signs of export growth. The beverage manufacturing industry reported particularly positive outlooks with 57.7 points. Other sectors showing growth include data processing equipment, electrical equipment, textiles and clothing, and mechanical engineering. Conversely, the chemical and paper industries reported slightly negative export expectations.