New Decline In Germany's Export Sector Index - Ifo

9/26/2023 10:05:37 AM

(MENAFN- Kuwait News Agency (KUNA)) BERLIN, Sept 26 (KUNA) - Germany's ifo Institute announced, Tuesday, a new decline in its index for the export sector, reaching a percentage of negative 6.5 last August and a percentage of negative 11.3 on September.
The institute stated in a report that the decline in its index for the sector, which is the backbone of the largest Economy in Europe, is unprecedented in three years.
He added that exports to all important markets for the German economy are expected to decline, especially the European, American and Chinese markets.
The institute indicated that all German industrial sectors, especially automobile and chemical manufacturers, expect their exports to decline in the next few months, indicating that the food industry sector can be excluded, which looks optimistically at its near future. (end)
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