MUNICH May 23 German exporters are surprisingly
confident about their ability to sell to other strong markets
overseas if trade with Russia is further impacted by sanctions
over Ukraine, Ifo economist Klaus Wohlrabe said on Friday.
Ifo's business sentiment indicator for May, released on
Friday, fell more than expected, once again reflecting concern
about the stand-off with Moscow over Ukraine. But Wohlrabe said
exporters and the auto industry in particular were upbeat.
"There are other markets where German companies are strong.
German exporters are flexible," he told Reuters. "The auto
sector's expectations have really taken off."
Sticking to his forecast of 0.3 percent growth in German
gross domestic product (GDP) for the second quarter, Wohlrabe
said the economy was dealing well with the relatively strong
euro and would not directly benefit further from another rate
cut by European Central Bank.
(Reporting by Joern Poltz; Writing by Stephen Brown)