Stable world economic climate

The Ifo World Economic Climate remained unchanged in the second quarter of 2007 at a very high level, clearly above its long-term average. The continuingly very positive assessment of the current economic situation only weakened marginally. The expectations for the next six months brightened again and point to robust economic activity in the second half of 2007. The climate index displayed varying results in the three large economic regions: Western Europe, North America and Asia. While rising again in Western Europe, reaching a six-year high, it fell in North America and Asia.