Export outlook for German manufacturing keeps improving in March

Export forecasts for German manufacturing in March rose for the sixth consecutive month, research group Ifo institute announced on Thursday.

The outlook value in March climbed to 12.2 points in March from 11.8 points in February, the think tank said.

According to Ifo president Hans-Werner Sinn, the robust U.S. economy and the low euro exchange rate are benefiting German exporters.

The automotive sector, where the good outlook continued to improve, remained a mainstay of German exports, Sinn continued.

Meanwhile, manufacturers of electronic and optical products also expressed far greater optimism with regard to foreign trade. Similarly, the pharmacy industry and producers of metal goods expect orders to keep flowing in.

However, companies in the chemical industry and in metal production and processing expect fewer stimuli from exports, according to Ifo.

The Ifo business climate index is considered the most important barometer for the German economy. Endit