FX.co ★ German Export Expectations Slump: Ifo

German exporters' expectations weakened sharply in September as they do not expect any improvement in demand in the coming months, survey data from the ifo institute showed Tuesday.

The ifo Export Expectations Index fell to -11.3 from -6.5 in August.

"Germany's export economy is going through a weak phase," Klaus Wohlrabe, head of surveys at ifo, said.

"Exports to all key regions are currently in decline."

The ifo survey showed that only manufacturers of leather goods and furniture, as well as a handful of food companies, expected a rise in exports now.

Growth expectations in the chemical and automobile industries vanished. Printing companies were the most pessimistic.

"It's likely that export demand won't pick up again significantly until next year," Wohlrabe added.