The mood in Germany’s export industry improved slightly in November, a survey said on Tuesday.
Companies, generally cautious about foreign business developments, are waiting to see which trade policies Donald Trump will implement, it said.
The Ifo economic institute’s indicator for export expectations rose to minus 5.9 points in November from minus 6.5 points in October, the first increase in six months.
“Companies are unsettled but are still waiting to see which trade policy Trump will ultimately implement,” said Klaus Wohlrabe, head of Ifo surveys.
“In addition, the dollar has appreciated strongly since the election, which may benefit exporters,” he added.
Some analysts assume German deliveries to the United States could initially increase in the coming months as companies there try to order goods before the possible introduction of tariffs, which would make them more expensive.
Trump said during his election campaign he would place high tariffs on goods from the European Union.
That would hit the already lagging German economy particularly hard as the U.S. is the largest buyer of its goods.
