Ifo Export climate for February 2013
Ifo Export Climate Improves Slightly
The Ifo Export Climate improved in February 2013 and reached -0.64 points. This improvement is due to the improvement in the world economic climate. Price competitiveness, on the other hand, deteriorated slightly versus January.
The mood among consumers and producers worldwide improved, especially in the European core countries of Austria, Belgium, the Netherlands and France, where it brightened considerably. In the European periphery countries of Greece, Italy, Portugal and Spain sentiment did not deteriorate any further. US companies provided positive impulses, while signals from BRIC countries were neutral.
The Ifo Export climate is composed of the world economic climate and an indicator for the price competitiveness of the German economy compared to that of 36 trade partners (excluding consumer price indices). The world economic climate summarises company and consumer confidence in 41 countries weighted by German export figures. The countries surveyed account for 90 percent of Germany's export markets and seasonally-adjusted figures are used to calculate the Ifo Export Climate. Price competitiveness comes into play in the log differences. The weightings given to price competitiveness and the world economic climate in the Ifo Export Climate are 0.12 and 0.88 respectively.
The Ifo Export Climate is calculated exclusively for the WirtschaftsWoche.