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The mood amongst German exporters brightened further in April, rising to the highest level in over a decade as the continued strength of the global manufacturing sector is underpinning sales, the Munich-based Ifo Institute said Tuesday.
"The pandemic is barely having an effect on manufacturing. This is clearly driving demand for German exports," the Ifo survey said.
Th Ifo Export Expectations index rose to 24.6 in April, up from 23.8 in March to 24.6 points -- the highest level since January 2011. The increase in sentiment was broad-based with almost all industries recording gains. The electrical and electronics sectors, as well as machinery and equipment industries, were extremely optimistic. Only the clothing and vehicle construction sector remain subdued with exports expected to drop.