Ifo World Economic Survey and Real Economic Developments in Selected Countries

The Ifo World Economic Survey (WES) is an international economic survey that has been conducted by the Ifo Institute on a quarterly basis since 1981. This article investigates the reliability of WES survey results in terms of the economic cycles of selected countries. The economic climate of a country will be compared to the respective annual growth rates in gross domestic product. Overall, the results show that the WES economic climate reflects actual economic developments very accurately and reliably indicates the turning points in national economic cycles.