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Sentiment among German exporters deteriorated modestly in July, although overall exports performed very well, data published by the Ifo Institute Tuesday showed. The manufacturing sector export expectations index slipped to 24.5 in July, down from 25.0 in June.
Nevertheless, almost all sectors forecast exports to rise with the electrical and electronics industry anticipating strong foreign sales. While machinery and equipment manufacturers saw an improvement in sentiment, the metal industry recorded a decline. The automotive sector expects sales to grow modestly, while the paper industry reports a decrease in sentiment.
Source: Ifo Institute