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IFO Q4 World Econ Climate Index 60.0 vs 73.4 in Q3, Hits 20yr Low

Posted:20/11/2008 10:36 by Nigel Betts
The Munich-based IFO Institute said its index of world economic sentiment has plunged to 60.0 in Q4 compared to 73.4 in the previous three months, which was the worse level in 20yrs. "On the whole, the survey data point to a global recession," according to the report, which was produced jointly with the Paris-based International Chamber of Commerce. The current economic situation is primarily responsible for the decline, with the next six months expected to worsen further, the report said. In Europe, the climate index fell sharply to 51.2 in Q4 from 63.1 prior. North American economic sentiment dropped to 53.9 from 62.7. Asia was hit hard, tumbling to 61.1 from 75.9. Other regions suffered in kind, with Russia, Latin America and Australia on the slide. The current economic indicator has been revised significantly downwards in nearly all countries in Western Europe. click here to return to the top of the page
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