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Export outlook for German manufacturing falls for third consecutive month: Ifo

Xinhua, June 26, 2015 Adjust font size:

Export forecasts for German manufacturing in June worsened again for the third consecutive month, research group Ifo institute announced on Thursday.

The outlook value in June declines to 9.2 balance points from 10.4 points in May, the think tank said.

"The increase in exports continued to weaken, and the expansive effects of the euro depreciation are slowly disappearing," Ifo president Hans-Werner Sinn noted.

Export dynamics lost impetus in almost all key branches including automobile manufacturing, the chemical industry and mechanical engineering, while companies from the metal production and processing branch reported better international sales opportunities, Ifo reported.

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