Ifo World Economic Climate Indicator continues to fall

The Ifo World Economic Climate continued to deteriorate in the fourth quarter of 2011. The indicator is now significantly below its long-term average. Unfavourable assessments of the current situation, and especially of the six-month outlook, were mainly responsible for the deterioration. The results confirm the difficult situation of the world economy. For the first time in over 20 years WES experts named “a lack of confidence in government economic policy” as the most important problem on a country average, with this problem ranked above “state deficits” and “unemployment”.