European business sentiment towards exports has improved in the past month. The INSEE survey in France rose to a net minus-8% of managers seeing export growth from the prior month’s minus-11%. In Germany the IFO survey increased to +7.2% from +6.0%. Managers in both countries appear to be unaffected by the continued political turmoil regarding Brexit in the U.K. The threat of U.S. tariffs on the automotive industry does not yet appear to be having an affect on German managers’ formal sentiment yet.