German manufacturers' export expectations in Feb. fall for third consecutive month

BERLIN, Feb. 26 (Xinhua) -- German manufacturers' expectations in export growth fell for the third consecutive month in February, research group Ifo institute reported on Monday.

The outlook value decreased to 14.8 balance points in February from 16.5 balance points in January, the Munich-based think tank said.

According to the report, developments in individual industry segments were very diverse. Companies in electronics, chemicals, metal processing and furniture producers are reckoning with additional stimuli from foreign business. On the other hand, companies in equipment and vehicle manufacturing expect their turnover to drop.

"Despite the favourable economic situation in the euro area, the strong euro is weakening sentiment," Ifo chief Clemens Fuest noted in the report.

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. Enditem