ifo Economic Climate in the Euro Area Virtually Unchanged
The ifo Economic Climate for the euro area has hardly changed at all. The indicator fell slightly from −6.3 to −6.7 points. The assessment of the current situation has deteriorated again. However, economic expectations were less pessimistic. Currently, the euro area economy lacks momentum.
WES experts’ assessments for Germany have clouded over again, taking on a gloomier tone for both the situation and expectations. The climate indicator fell in France, too, but solely because of more pessimistic expectations; the current situation was assessed somewhat less negatively. In Italy and Spain, both the assessment of the situation and economic expectations have been revised upwards. Italy’s experts in particular are much less pessimistic about the coming months.
For consumption, investments, and exports, respondents expect hardly any growth in the euro area in the next six months. They continue to assume an inflation rate of 1.5 percent for the current year. An increasing proportion of experts expect short- and long-term interest rates to fall.
Prof. Dr. Dr. h.c. Clemens Fuest
President
