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ifo World Economic Climate Improves Markedly

Summary:
Results of the ifo World Economic Survey (WES) for the 2nd Quarter 2017 Press Release (PDF, 194 KB) The ifo World Economic Climate improved markedly in the second quarter, with the indicator rising from 2.6 points to 13.0 points. Experts’ assessments of the current economic situation were considerably more positive, making their sharpest increase since January 2013. Economic expectations also improved. A further recovery was seen in the world economy in the second quarter. The ifo World Economic Climate improved in nearly all regions of the world. The main drivers remained the advanced economies, and especially the European Union. Both assessments of the current economic situation and expectations

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Results of the ifo World Economic Survey (WES) for the 2nd Quarter 2017

The ifo World Economic Climate improved markedly in the second quarter, with the indicator rising from 2.6 points to 13.0 points. Experts’ assessments of the current economic situation were considerably more positive, making their sharpest increase since January 2013. Economic expectations also improved. A further recovery was seen in the world economy in the second quarter.

The ifo World Economic Climate improved in nearly all regions of the world. The main drivers remained the advanced economies, and especially the European Union. Both assessments of the current economic situation and expectations continued to follow an upwards trend in most countries. In Latin America assessments of the economic situation remained largely poor, but expectations brightened markedly. There was also a significant improvement in the developments and outlook for emerging and developing economies. Africa and the Middle East were the only regions in which the economic climate deteriorated. The outlook for Turkey also remained overcast.

Average short and long-term interest rates worldwide are expected to rise over the next six months. The US dollar is expected to strengthen further over the next six months, but more moderately than previously.

Clemens Fuest
Clemens Fuest took over from Hans Werner Sinn as chairman of the IFO Institute in April 2016. He is professor at the Faculty of Economics of the University of Munich.

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