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German manufacturers' export expectations improve notably in Jan.

Xinhua, January 27, 2017 Adjust font size:

German manufacturers' expectations in export growth improved significantly in January, research group Ifo institute reported on Friday.

The outlook value rose to 12.0 balance points in January 2017 from 8.2 balance points in December 2016, the Munich-based think tank said.

According to the report, the rise in export expectations was mainly driven by car manufacturers, while companies in mechanical engineering, chemicals and electrical products branches also expect to see higher exports.

However, metal processing companies are likely to to experience a clear downturn and very little growth in the near future.

"The German economy currently seems unfazed by the protectionist comments of the new U.S. president," Ifo chief Clemens Fuest commented.

The Ifo Export Expectations are based on around 2,700 monthly reports from manufacturers, who are asked to report their export expectations for the next three months. Endit