World economy climate more favourable after the war in Iraq

According to the results of the 80th Ifo World Economic Survey, the upward trend in the overall indicator continued in April 2003. Particularly in the second half of April - after the end of the Iraq war - the judgements of the WES participants showed a clearer improvement in the economic climate. The improvement of the indicator resulted from the more confident expectations for the next six months, although judgements of the current economic situation remained unchanged. On average for the 88 countries, unemployment still remains the greatest problem. Insufficient demand ranked second. More frequently than in the previous survey, the euro is regarded as overvalued.