Ifo World Economic Climate Index falls further; Economic situation is unfavourable in Spain, Italy, Belgium and Ireland
Nov 20th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Ifo World Economic Climate has worsened further in the fourth quarter of 2008. The indicator has fallen to its lowest level in more than twenty years. The decline is primarily the result of more unfavourable assessments of the current economic situation, but also the expectations for the coming six months have worsened further. On the whole, the survey data point to a global recession.