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Ifo: export outlook for German industry falls markedly in Oct.

Xinhua, October 27, 2015 Adjust font size:

Export forecasts for German industry in October fell markedly after slight rise in September, research group Ifo institute announced on Tuesday.

The outlook value in October declined from 7.5 points in September to 5.8 balance points, its lowest level since September 2014, the think tank said.

"The export dynamic therefore continued to weaken," Ifo president Hans-Werner Sinn noted.

According to Ifo, it was primarily due to considerably more overcast expectations in the chemical industry, metals and mechanical engineering. Meanwhile, the automotive industry does not expect any stimuli from abroad in the coming months either.

However, companies in the electronics industry and the pharma sector expect to acquire higher sales from abroad.

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