Ifo World Economic Climate Clouds Over Significantly: Results of the 126th World Economic Survey (WES) for the fourth quarter of

The Ifo Indicator for the World Economy fell from to 95.0 points from 105.0 in the previous quarter, taking it to its lowest level since the third quarter of 2013. It is now just below its long-term average value of 95.5. Assessments of the current economic situation deteriorated only slightly, but economic expectations were strongly downwardly revised. This is a setback to the worldwide upswing. The Ifo Economic Climate clouded over in all regions. In Europe and the CIS countries the decline in the Ifo Economic Climate Index was very sharp. While the Ifo Index for Europe is only slightly below its average value, the CIS states together with Latin America are bringing up the rear. In both regions the Ifo Economic Climate cooled down to a level last seen five years ago. The unresolved crisis in the Ukraine also left its mark on survey results. In the Ukraine and Russia assessments of both the current economic situation and the outlook for the months ahead deteriorated.