Mood among German industrial exporters at highest since 2022

German industry's export expectations rose in October to their highest level since February 2022, a leading economic institute said on Tuesday.

The expectations rose by 3.2 points to 12.2 points, according to the ifo Institute.

"The automotive industry in particular has significantly revised its export outlook upward," said Klaus Wohlrabe, head of surveys at the Munich-based research institute.

In September, car industry expectations were clearly in negative territory at minus 15.1. They have now jumped to plus 12.7, meaning the share of companies expecting rising exports is 12.7 percentage points higher than the share expecting falling exports.

"The signs also point to export growth in many other industrial sectors," Wohlrabe said.

Export expectations are particularly positive in beverage manufacturing, at 57.7 points. Behind it, with values between 29.1 and 15.7 in descending order, come data processing equipment, electrical equipment, textiles and clothing as well as mechanical engineering.

Slightly negative export expectations exist in the chemical industry and the paper industry, among others.