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German manufacturers more pessimistic on export outlook in Jan.

Xinhua, January 28, 2016 Adjust font size:

Fewer German manufacturers expect month-on-month rise in exports and their expectations suffered notable setback in January, research group Ifo institute announced on Wednesday.

The outlook value fell to 7.6 balance points in January from 11.6 balance points in December last year, the think tank said.

Capital goods companies, particularly in the electronics industry, mechanical engineering and the automotive sector, expressed greater pessimism, Ifo president Hans-Werner Sinn noted in the report.

Only the chemical industry is benefiting currently from low oil prices, and its export expectations rose sharply.

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