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Ifo's manufacturing sector Export...........>

GERMANY
GERMANY: Ifo's manufacturing sector Export Expectations gauge recovered from a
very weak -50.2 in April to a still-weak-but-improved -26.9 in May. That was a
record rise, though almost all manufacturing subsectors still expect exports to
decline. The outlook looks brighter, according to Ifo: "export expectations rose
in almost all key sectors, in some cases significantly. The increase was
clearest in the automotive industry, but pessimism has also declined
significantly in the electrical sector."

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