International economy: downward trend continues

According to the results of the 74th Economic Survey International, the downward trend in the international economic climate that began in Spring 2000 intensified in October 2001. Since reaching a peak in April 2000, the indicator has lost ca. 40% of its value and is now at its lowest point since the survey was introduced in Spring 1981. The sharp downturn affected both components: the appraisal of the current economic situation as well as the six-month expectations. The main problem facing the world economy, according to the survey experts, is a weakening of demand. A further decline in short-term interest rates next year is expected by more ESI respondents than in the previous survey.