Ifo World Economic Climate Indicator for Eurozone improves in second quarter of 2009 for the first time since autumn 2007
May 14th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Ifo World Economic Climate Indicator for the Eurozone has improved in the second quarter of 2009 for the first time since autumn 2007. The rise in the Ifo indicator is the result of less negative expectations for the coming six months; the assessments of the current economic situation, however, have worsened further and now stand at a new all-time low. On Tuesday, the IMF issued a more gloomy report on European economic prospects, saying its baseline projection is for a continuing decline in output through the beginning of 2010, followed by a gradual recovery.