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【Ferro-alloys.com】:Sentiment in the German export industry has deteriorated noticeably in June, a survey by the Ifo Institute showed on Tuesday.

The Ifo export expectations index fell to minus 5.6 points in June from plus 1.0 points in May, dropping to its lowest level since November 2022.

"In addition to weak demand on the German domestic market, we are now also seeing fewer orders from abroad," said Klaus Wohlrabe, head of surveys at Ifo. "This is bad news for Germany's export economy."

The majority of sectors forecast exports to decline over the next three months, the Ifo report said. Only clothing manufacturers and the beverage industry predict significant growth.

It is not just export expectations that have clouded over in June. German business morale worsened for the second consecutive month, the Ifo business climate index showed on Monday, indicating that Europe's largest economy faces an uphill battle to shake off recession.

• [Editor:Alakay]