The positive sentiment among German export managers dimmed a little in August. The latest IFO survey shows the proportion seeing conditions above average fell to 18% from 21% in July, though that is still the second highest since March 2011. A marked reverse in sentiment (though still positive) in the automotive and metals industry is to blame. The latter may reflect concern about the implications of a delay in the results of the U.S. reviews of the metals and aluminum industries. The German reversal contrasts with an improvement in the U.K., though both – and France – remain at multi-ye...