World Economic Climate Weakens Sharply In Q4: Ifo

Doha, November 16 (QNA) - The world economic climate deteriorated significantly in the fourth quarter on less favorable assessment of the current situation and expectations, data from a survey by the Ifo Institute showed Wednesday. The Ifo world economic climate index plunged to 78.7 in the fourth quarter from 97.7 in the third quarter. In the second quarter, the reading was 107.7. The latest figure is the lowest since the second quarter of 2009, when the reading was 65.2. Both the current situation sub-index and the expectations component declined markedly during the quarter. The measure of current situation fell to 86 in the three-month period from 99.1 in the previous quarter, while the expectations sub-index dropped to 71.9 from 96.5. In North America, the current economic situation was increasingly assessed as less favorable, and expectations were less confident than in the third quarter. In Asia, the expectations index dropped more than the situation component, while in Western Europe the economic climate worsened in the fourth quarter owing mainly to the significantly more negative outlook, the agency said. (QNA)