BERLIN (Reuters) - German carmakers became more optimistic about their prospects for production and exports in May, a survey by the Ifo economic institute showed on Wednesday, a ray of hope for the sector that has been hit hard by the coronavirus pandemic.
The index for export expectations rose to -9.8 from -65.3 in April while the index for production expectations increased to 22.7 from -41.5.
But Ifo warned that the sector remained pessimistic overall, with carmakers feeling more downbeat about the current business conditions than they did during the 2009 global financial crisis.