Economic Buzz: IFO World Economic Climate Index Slips For Fourth Quarter

The IFO World Economic Climate index for the first quarter of 2019 slipped for the fourth time in a row to minus 13.1 points, the German ifo Institute announced on Monday. For the fourth quarter of 2018, the index for the global business climate stood at -2.2 points. The ifo index for the global economic climate in the first quarter of 2019 is based on responses of 1,293 experts from over 100 countries. The economic climate was significantly tepid for the Middle East and North Africa, according to the ifo Institute, while in emerging and developing countries the experts assessment of the economic situation remained virtually unchanged, after having declined significantly in the previous two quarters. The experts surveyed by the ifo Institute expected weaker growth of private consumption, investments and world trade, as well as a worldwide depreciation of the US dollar.