“The prospects for the German automotive sector have deteriorated significantly because of the coronavirus crisis,” the institute found, as quoted by BTA.
The indicator measuring business expectations in the sector for the coming months decreased to minus 33.7 points in March compared to minus 19.7 points in February, the institute reported.
Lowest German auto sector export expectations since 11
Germany's automotive sector expectations for exports have fallen to a low level since March 2009, when Europe's largest economy was in the midst of the global financial crisis. This was announced today by Germany's leading Ifo Institute (Ifo), quoted by Reuters.tags:
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