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German manufacturers expect strong export growth: Ifo

Xinhua, December 18, 2015 Adjust font size:

German manufacturers expect exports to rise markedly, research group Ifo institute announced on Friday.

The outlook value reached their highest level since March and is now at 11.6 balance points, versus 7.6 balance points last month, the think tank said.

According to Ifo, the stable economic situation in the United States and the huge depreciation of the euro, triggered by the quantitative easing policy of European Central Bank, played a crucial role in the increase.

"Exports as a key driver of the German economy gathered impressive impetus this month," Ifo president Hans-Werner Sinn noted.

Export expectations are reported to rise in nearly all branches, including companies in mechanical engineering, metals and pharma sectors.

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