BERLIN, May 26 (Xinhua) -- The "excellent mood" among German exporters suffered a "slight setback" as the corresponding index dropped by 0.9 points to 23.0 points in May compared to the previous month, the ifo Institute announced on Wednesday.
Before the decline in May, the index had risen for five consecutive months, according to the ifo Institute, which surveys around 2,300 manufacturers each month on their export expectations.
"Germany's export industry remains a mainstay of buoyant industrial activity," said Clemens Fuest, president of the ifo Institute, in a statement.
However, export expectations in Germany's important automotive industry "took a clear dip" in May as "hardly any new orders" were expected from abroad in the coming three months, the ifo Institute noted.
The textile and clothing industry in Germany was also "facing difficulties in the international market," while the export market continued to develop very well for manufacturers of machinery and equipment as well as the electrical and electronics industries, according to the ifo Institute. Enditem
