The world economic climate continues to brighten in the first quarter of the year, according to the latest report of German economic research institute Ifo.
The results of Ifo World Economic Survey, released on Monday, showed that the indicator for the world economy rose to 2.6 balance points from the -1.2 balance points it was in the previous quarter.
The report noted that the economic climate primarily improved in advanced economies, including Japan and Britain.
“Expectations also brightened somewhat, pointing to a moderate recovery in the world economy,” Ifo president Clemens Fuest said.
However, the climate for emerging markets and developing economies remained unfavorable.
In addition, surveyed experts also expected the average short and long-term interest rates worldwide to rise over the next six months.
“Experts’ assessments of the current economic situation were no longer quite as unfavorable as last quarter,” Fuest said.
Ifo has conducted a quarterly survey in many countries on business cycle developments and other economic factors since 1981. The results of this survey are based on responses of more than 1,000 experts from over 100 countries and regions. Enditem