German manufacturers' expectations in export growth rose for the first time after seven consecutive decreases, the economic research group Ifo Institute reported Thursday.
The outlook value rose to 13.7 balance points in July from 12.6 balance points in June, the Munich-based think tank said.
Mechanical engineering firms, electrical goods manufacturers and metal producers all expect marked increases in exports.
However, the protectionism and the threat of tariffs on German cars are weakening the sentiment among automotive firms, making the export expectations in this sector to fall to the lowest level since October 2012.
"The world economic climate nevertheless remains difficult for German exporters," Ifo president Clemens Fuest said in the statement.
The Ifo export expectations are based on around 2,700 monthly reports from manufacturers, who are asked to report their export expectations for the next three months.
The outlook value rose to 13.7 balance points in July from 12.6 balance points in June, the Munich-based think tank said.
Mechanical engineering firms, electrical goods manufacturers and metal producers all expect marked increases in exports.
However, the protectionism and the threat of tariffs on German cars are weakening the sentiment among automotive firms, making the export expectations in this sector to fall to the lowest level since October 2012.
"The world economic climate nevertheless remains difficult for German exporters," Ifo president Clemens Fuest said in the statement.
The Ifo export expectations are based on around 2,700 monthly reports from manufacturers, who are asked to report their export expectations for the next three months.
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