In almost all branches of industry, companies are therefore more confident about their foreign business. The electrical industry is hoping for a significant increase in export orders. The same applies to mechanical engineering, where the barometer has climbed to its highest value since November 2017. "The automotive sector also remains optimistic," emphasized Fuest. "The furniture industry has turned the corner - after two months with noticeably more pessimistic prospects, hope is now growing again." On the other hand, companies that manufacture clothing and shoes are expecting declining sales. The mood of companies in Germany has recently brightened surprisingly, despite the third corona wave, as the Munich institute announced on Friday for its survey of 9,000 managers. The Ifo business climate index rose in March by 3.9 to 96.6 points, the highest level since June 2019.