Among textile manufacturers in Germany, there is renewed confidence with regard to international business. Manufacturers of clothing and leather goods are highly optimistic that they will see a big jump in exports in the next three months, as per the Ifo Institute.
Sentiment among German exporters has improved noticeably. Export expectations for manufacturing companies rose to 6.9 points in April 2023, up from 4.1 points in March. This is its highest level since February 2022, according to the Ifo Business Survey for April 2023.
“Robust economic development in the US and the encouraging trend in China are increasing demand for German exports,” said Klaus Wohlrabe, Head of Surveys at Ifo. “After a weak start to the year, exports have been able to grow again in the second quarter.”
