Confidence among Germany’s exporters was the highest in nearly three-and-a-half years in May as exports continue to rise, results of a study by Ifo showed Friday.
The Ifo Export Expectations Index rose to 14.7 balance points in May from 13.8 balance points in April, marking the highest level since January 2014.
The survey is based on around 2,700 monthly reports from manufacturers.
Among exporters, clothing manufacturers were the most optimistic with almost half of survey participants expecting an upturn in shipments, the Munich-based think tank said.
Machinery manufacturers expect increased demand from abroad and their sentiment was the strongest since February 2011, the Ifo said.
Meanwhile, expectations among the electronics producers dropped, though remaining strong.
The material has been provided by InstaForex Company – www.instaforex.com