IFO: German Industrial Sector Expects a Slight Growth in Output in coming months

An IFO Institute survey showed that industrial companies in Germany, which have been hit by the economic downturn caused by the Coronavirus, expect production to increase slightly in the coming months.

“The industrial sector, the engine of the German economy, is gradually returning to its course,” said Klaus Vollrape, supervisor of IFO surveys.

The Ifo index rose to 15.4 points in August from 14.3 points in July.

For the first time in more than a year, engineering firms are expecting production growth and carmakers are still expecting growth, but not as optimistic as was the case last month.