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Germany's car industry shows initial signs of recovery - Ifo

FILE PHOTO: An automated body welding line for electric cars is seen at Volkswagen's Zwickau assembly plant in Zwickau, Germany, September 13, 2019. Picture taken September 13, 2019. REUTERS/Joe White/File Photo

BERLIN (Reuters) - Germany’s car industry has seen demand picking up after coronavirus-related restrictions were eased and auto industry exports are expected to rise, a survey published by the Ifo economic institute on Tuesday showed.

Business expectations, demand and order books all improved last month, Ifo said, but it cautioned that the survey’s indicator for the current business situation was still negative in July.

Volkswagen and Daimler have said customers have returned to showrooms after corona lockdowns eased, resulting in a gradual rebound in demand in Europe and China.

Reporting by Riham Alkousaa and Edward Taylor; Editing by Michelle Martin

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