Ifo World Economic Climate Brightens Somewhat

The Ifo World Economic Climate indicator rose slightly in the first quarter of 2012, after two consecutive decreases, but remains far below its long-term average. The improvement was exclusively due to somewhat less pessimistic expectations for the forthcoming six months. Assessments of the current situation, on the other hand, continued to deteriorate. Current data prove that the world economy remains in a difficult situation, even if the perspectives of an economic recovery over the course of the next six months have improved slightly.