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Economic climate in euro area to drop in 4th quarter: Ifo

Xinhua, November 5, 2015 Adjust font size:

Ifo index for the economic climate in the euro area declined again to 122.0 points in the fourth quarter from 124.0 points in the previous one, the Munich-based think tank reported here on Thursday.

"While assessments of the current economic situation brightened slightly, the six-month economic outlook continued to be darkening," said Hans-Werner Sinn, president of Ifo institute.

"The euro area economy continued its recovery at a subdued pace," Sinn added.

According to Ifo's survey, assessments of the current economic situation improved overall, with the exception of Austria, Belgium, Spain, Estonia and Lithuania.

In most other euro countries the situation is satisfactory, Ifo noted.

In addition, the six-month economic outlook remains positive in most countries, although expectations in several states scaled back significantly, especially in France, Portugal and Spain.

The report noted that the growth outlook in the euro area for the next three to five years increases slightly to an annual 1.7 percent from 1.5 percent in the survey at the end of 2014.

Ifo is one of Europe's leading research institutes. Its business climate index is considered as the most important barometer for the German economy. Endit