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Export expectations in Germany's car sector at lowest since 2009, says Ifo

Export expectations in Germany's car sector at lowest since 2009, says Ifo

Export expectations in Germany's car sector have fallen to their lowest level since March 2009, when Europe's largest economy was in the throes of the global financial crisis, Germany's Ifo institute said on Monday.

"The prospects for the German car sector have significantly worsened due to the coronavirus crisis," Ifo said.

It said business expectations in the sector for the coming months had dropped to -33.7 from -19.7 in February.