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Export outlook for German manufacturing falls again slightly in May

Xinhua, May 29, 2015 Adjust font size:

Export forecasts for German manufacturing in May worsened again slightly after the fall in April, research group Ifo institute announced on Thursday.

The outlook value in May declines to 10.4 balance points from 11.2 balance points in April, the think tank said.

According to Ifo president Hans-Werner Sinn, declining orders from abroad had a dampening impact in the first quarter, however, export sales remain expansionary.

Car manufacturers observed a third decline in a row, manufacturers of fabricated metal products, electrical engineering as well as food and beverages are expecting retarding impulses.

On the other hand, companies in the fields of basic metals and pharmaceutical industry see improved sales prospects abroad, according to Ifo.

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