Ifo business climate indicator climbs

The Ifo Indicator for the business climate for the euroarea has slightly risen in the third quarter. The Ifo World Economic Survey (WES) has reported a clear improvement in the judgements compared to the second quarter of 2010. The expectations for the next six months have however weakend, but alltogether stayed positive. Many countries of the euroarea judge the current economic situation as unfavourable. Only Germany, Austria and Slovakia have positive judgements. However the current situation in Greece, Ireland, Spain and Portugal is being judged as extremely weak. The WES-Experts are speculating that the second half of 2010 will bring a further decline in Spain and Greece. The expectations for all other countries of the europarea for the next six months are by contrast positive.