Germany’s export managers continued to become more optimistic in March. The latest IFO survey shows the balance expecting an expansion in orders at +14.7% from +14.5% a month earlier. That’s the highest result since January 2014 and was driven by an increase in auto manufacturing sentiment to 9.7% from negative 11.3% in December. That likely reflects slow movement on trade protectionism by the Trump administration and an awkward, but not combative, meeting between Chancellor Merkel and President Trump. The rise in optimism is not coordinated across Europe, with U.K. managers’ ou...