IFO: World economic climate continues to brighten

WES experts forecast growth of 2.3% this year as the world economy is slowly gaining impetus.
The economic climate improved significantly in Europe, and especially in central and eastern Europe. In Asia, the economic climate brightened slightly and returned to its long-term average.
In North America, the indicator fell by almost ten points, but remained way above its long-term average. In the CIS states, the economic climate recovered somewhat to reach 53.8 points, but remains well below its long-term average of 88.1 points.
In the Middle East and Latin America the indicator continued to decline, falling to its lowest level in almost six years.
According to assessments by WES experts, economic growth in Europe (1.7%) and the USA (2.7%) will accelerate this year. The forecast growth rates for Latin America (1.3%) and Asia (3.6%), by contrast, are lower than last year’s figures. Experts expect Russia and the Ukraine to be hit by a deep recession.