According to the report from Ifo Institute for Economic Research, the Export Expectations in manufacturing rose to 7.2 balance points in February, from 6.0 balance points in January. The index is based on around 2,700 monthly reports from manufacturers.

“The tariff threats of the US government are currently having no negative impact on the automotive industry’s export expectations. However, firms are clearly reserved in their assessments of the current situation. At the moment, neither an increase nor a decline in exports is anticipated. By contrast, the food and beverage industry is expecting significant growth in foreign business. The export momentum in the mechanical engineering sector, however, has leveled off considerably in recent months, with hardly any additional orders from abroad being awaited." Ifo President Clemens Fuest said.