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German producers are more upbeat about the outlook in February and expect to increase production going forward, although expectations vary sharply across industries, ifo head of surveys Klaus Wohlrabe said Monday. "While the automotive industry is planning to expand production particularly rapidly, the clothing industry is planning to cut back on production," he said.
The Ifo expectations index rose for the third successive month, rising 9.4 points on month to 20.7 points, data published Monday by the Ifo institute showed. In addition to the automotive industry, manufacturers of computers, chemicals and machinery have increased their production expectations, while the outlook for furniture producers worsened.
Source: Ifo Institute