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Global economic worries ebb on renewed US hopes
THE WORLD economic climate remains gloomy, according to data out yesterday from the Ifo, but survey respondents are more optimistic about the second half of 2012.
The climate indicator rose to 82.4 in the first quarter, up from 78.7 in the fourth quarter of 2011, as the US index climbed strongly from 69.5 to 87.9.
However, the index remains firmly below the 106.8 recorded a year ago, and the long-run average of 96.7.
“The survey results confirm that the situation of the world economy remains difficult,” said Ifo president Hans-Werner Sinn.
The expectations index rose sharply from 71.9 to 80.7, though it stood at 110.5 in the first quarter of 2011 and 129.8 at the start of 2010.