Export outlook for German industry rises in September: Ifo

Export forecasts for German industry in September rose after after consecutive falls in last five months, research group Ifo institute announced on Friday.

The outlook value in September rose to 7.7 balance points from 7.4 points in August, the think tank said.

"The growing pessimism seen in the export industry in recent months has ground to a halt," Ifo president Hans-Werner Sinn noted.

Export expectations of mechanical engineering are to improve for the third month in succession. Meanwhile, additional impulses are also expected by firms in the metal processing and computer industry, as well as by pharma firms, according to Ifo.

However, exports in the chemicals and electronics industry are expected to lose impetus.

Ifo noted in its report that the implications of the current emissions scandal are not reflected in this survey, which was conducted before the news broke.

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