Ifo: the economic mood index of the euro area has reached almost seventeen-year high

The economic indicator of the euro area’s economic climate has not seen an unprecedented level in the third quarter for almost seventeen years, according to data published by the Ifo Institute of Economics (Leibniz-Institut für Wirtschaftsforschung an der Universität München e V.).

The economic mood of the euro area rose from 26.4 to 35.2 in the third quarter. This is the most favorable data since the autumn of 2000.

In particular, the interviewed experts consider the current situation to be more favorable than in the previous quarter, but the prospects for the next six months have been also improved compared to the April to June period, so ifo analysts say that the strong growth can continue in the second half of the year – Clemens Fuest ifo director commented on the results of the survey. (MTI)