The Ifo Indicator for the world economic climate fell slightly. Both assessments of the current economic situation and the six-month economic outlook deteriorated somewhat. The recovery in the world economy is not really making any headway.
After its sharp increase in the second quarter, the economic climate indicator in Asia fell below its long-term average value. The sharp decrease is primarily due to significantly less favourable assessments of both the current economic situation and future economic developments in China. In North America both components of the economic climate improved significantly and point to a continued recovery in the region. In Europe the economic climate brightened slightly, primarily due to significantly more positive economic expectations for the next six months. The current economic situation also improved compared to last quarter, but assessments of the current economic situation by the experts surveyed remain unfavourable.
The price increase expected for 2013 remains unchanged versus the last quarter at 3.2%. While WES experts expect short-term interest rates should remain largely stable on average over the next six months, a higher number of them expect long-term interest rates to rise. On worldwide average, economic experts expect to see moderate value growth in the US dollar over the next six months.