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Export outlook for German manufacturing continues to brighten: think tank

Xinhua, January 28, 2015 Adjust font size:

The export expectations for German manufacturing rose for the fourth month in succession, the Ifo institute reported here on Wednesday.

The outlook value in January climbed to 9.5 balance points from 7.7 balance points in December, the Munich-based think tank said.

According to Ifo, exports, which were already at a very high level, were given an additional boost by the sharp drop in the euro exchange rate and dropping oil prices.

Ifo president Hans-Werner Sinn stated that export expectations rose sharply in mechanical engineering, the electronics industry and in the production of data processing equipment.

However, automotive manufacturers expressed only faint optimism about international trade, and the export expectations of metal production and processing firms were quashed and failed to remain at the high level seen in the last three months.

Ifo is one of Europe's leading research institutes and is also the economic research institute most frequently cited by German media. The Ifo business climate index is considered the most important barometer for the German economy. Endit