The global economic climate is at its brightest since 2007, but there may be trouble ahead, according to the latest quarterly World Economic Survey by the International Chamber of Commerce (ICC) and the Munich-based Ifo Institute for Economic Research, published today.
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The world economic climate has worsened in the fourth quarter, as indicated by increasingly negative expectations from economic experts, according to the World Economic Survey (WES), published today by the International Chamber of Commerce (ICC) and the Munich-based Institute for Economic Research (Ifo).
The World Economic Climate Indicator rose in the first quarter of the year for the fourth consecutive time due primarily to positive assessments of the current economic situation in Asia, but the expectation of a continued rise in unemployment, and other factors, raised concerns about the strength of the recovery.
The world economic climate index fell for the sixth consecutive quarter, dropping 10 percentage points to reach its historically lowest level since the introduction of the World Economic Survey in 1981, according to the ICC and the Ifo Institute for Economic Research, who conduct the survey.
The world economic climate index, compiled by ICC and the Ifo Institute for Economic Research, has dropped for the fifth consecutive quarter in a row, hitting its lowest level since 1988.
The ICC/Ifo global climate index in July fell for the fourth consecutive quarter in a row since sentiment became downbeat last summer, recording its lowest level since 2001.
Despite current economic uncertainties and falling stock markets, corporate assessments of the world economic climate declined only slightly in the third quarter of this year, an international survey of business opinion showed.