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Weak start for the German export industry - financial expert gives assessment
German companies' export expectations fell to minus 8.4 points in January, marking the second consecutive decline and the worst figure since September 2023. The automotive and mechanical engineering industries as well as electrical engineering are particularly affected. Manufacturers of plastic and rubber goods and the metal industry are also struggling with declining orders from abroad. Only the food industry, beverage manufacturers and the furniture industry expect export growth. The increased interest rates in many industrialized countries, the weak economy of important trading partners and increasing competition from China are causing problems for the German export industry. According to the Federal Statistical Office, exports to the USA...
Weak start for the German export industry - financial expert gives assessment
According to a report by www.zeit.de,
As a financial expert, I think it is worrying that the German export economy continues to weaken and that the situation has worsened in January 2024. The declining export expectations in important sectors such as automobile and mechanical engineering as well as the effects of the weak economy in trading partners and China could have an impact on the German economy. A decline in exports could lead to a downturn in the entire economy and negatively impact investor sentiment. In this scenario, investors could increasingly focus on domestic stocks, while export-oriented companies could come under further pressure. The increased export-related risks could lead to a reduction in corporate investments and put a strain on the German economy. The financial industry must therefore prepare for increased volatility and uncertainty.
Read the source article at www.zeit.de