Germany's export expectations fall in December

ANKARA

Sentiment in the German export industry has declined in December from the previous month, Munich-based research institution the Ifo Institute for Economic Research said Monday.

The Ifo Export Expectations indicator fell to 12.1 points in December from 15.8 points in November, the institution said in a statement.

"Nevertheless, exports will probably increase in the first quarter of 2022, albeit at a slower pace.

"Expectations in the automotive industry took a substantial hit. While additional international orders are still expected, there will be far fewer of them than was thought in the previous month," it added.

However, expectations among manufacturers of machinery and equipment improved, while textile manufacturers, food and beverage manufacturers, and printing companies are expecting a slight decline in exports, according to the statement.