German manufacturers' export expectations rise significantly in June: Ifo

German manufacturers' expectations in export growth rose notably in June compared to last month, research group Ifo institute reported here on Tuesday.

The outlook value rose from 6.2 balance points in May to 8.1 balance points in June, reaching its highest level since December 2015, the think tank said.

According to the report, companies in automotive sector, metals and electronics industries and pharmaceutical industry were all more optimistic, while optimism among mechanical engineering companies waned slightly.

However, the report noted that the survey was made prior to the Brexit referendum.

"German exporters held their ground in a weak global economic climate," Ifo president Clemens Fuest commented.

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