The ifo World Economic Climate improved this quarter, with the indicator reaching its highest level since the second quarter of 2011. Experts assessed the current economic situation as more positive than last quarter and their expectations were also more optimistic.

The climate improved in nearly all regions of the world. With the exception of the Middle East and Northern Africa, experts across the globe assessed the current economic situation more positively. Developments in their expectations were mixed. Optimism waned in advanced economies. Experts from emerging and developing economies, by contrast, expect the world economy to pick up; with Latin America contributing strongly to the improvement in expectations.

Based on exports, the price increase in the world economy will accelerate. Slightly fewer survey participants expect world trade to grow. The US dollar is expected to appreciate against other currencies.