BERLIN- The mood among German exporters brightened in May despite supply chain problems looming over industry, according to a survey released on Tuesday.
The Ifo institute said its export expectations index rose to 4.5 points after a reading of 3.0 in April – but added in a statement that German manufacturers remained cautious “and logistics problems continue to be a considerable burden.”
The institute found no current signs of major changes in Germany’s all-important export business.
In the German auto sector, export prospects recovered in May, but carmakers were not expecting any sizeable growth in international sales, Ifo said.
Manufacturers of electrical equipment were expecting exports to continue to grow steadily, while manufacturers of machinery and equipment were cautiously optimistic about their international business, it added.
German exports fell more than forecast in March, easing by 3.3 percent, while imports rose by 3.4 percent, according to data released by the Federal Statistical Office on Wednesday.
A Reuters poll had predicted a month-on-month fall in exports of 2.0 percent.
Exports to Russia plunged by 62.3 percent in March compared with February partly because of sanctions imposed as a result of the war in Ukraine, the Office said in a statement.
In March, Germany had a seasonally adjusted trade surplus 3.2 billion euros ($3.4 billion), the Office reported, versus a forecast 9.8 billion euros.
