Economic climate in euro area hits highest level since 2000: think tank

2018-02-08 02:56:52 GMT2018-02-08 10:56:52(Beijing Time) Xinhua English

BERLIN, Feb. 7 (Xinhua) -- German research institute Iforeported on Wednesday that Ifo economic index for euro area hit itshighest level since the summer of 2000, primarily due to morepositive assessments by experts in France and Italy.

The advance results of Ifo World Economic Survey show that theindex for euro area rose sharply from 37.0 index points in thefourth of 2017 to 43.2 points in the first quarter this year.

According to experts of the survey, the current economicsituation in particular continued to improve and economicexpectations brightened slightly.

"The dynamic upswing is expected to continue," Ifo presidentClemens Fuest noted.

Surveyed experts said that an uptick in investment activity andprivate consumption, the pick-up of foreign trade and an increasinginflation rate of 1.7 percent in 2018 are some of the driversbehind the upswing.

However, fewer experts expect long-term interest rates torise.

Ifo institute has conducted a quarterly survey in numerouscountries on business cycle developments and other economic factorssince 1981. The results of this survey are based on responses ofabout 349 economic experts.