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Results of the ICC-Ifo World Economic Survey, released today, showed a fresh rise in the climate indicator during the second quarter of 2012, reaching 95.0, up from 82.4 in the previous quarter, and confirmed a trend towards recovery in the world economy.
These results are only slightly below the long-term average of 96.7 (1996-2011) for the World Economic Survey, conducted by the Munich-based Ifo Institute for Economic Research and the International Chamber of Commerce (ICC).
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ICC-Ifo World Economic Survey confirmed a trend towards recovery in the world economy
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Economic experts had an especially positive outlook for the next six months, as indicated in the report by a rise to 101.8 from 80.7. This was complemented by a somewhat warmer appraisal of the current situation, increasing to 87.9, from 84.1 in the first quarter of 2012.
“Improved monetary policy has partly been driving a positive outlook for the next six months,” said ICC Secretary General Jean-Guy Carrier. “In many countries, such as China and Brazil, there has been monetary easing in the form of interest rate cuts. In the Eurozone, some progress has also been made, including the establishment of a new permanent financial umbrella European Stability Mechanism (ESM) starting in July this year.”
Click here to read more on ICC’s website.
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