Ifo index for world economy falls in the third quarter

The Ifo Index for the world economy fell to 95.9 points in the third quarter of 2015 after recovering somewhat in the first half of the year, the Munich-based think tank announced here on Thursday.

The economic climate deteriorated in nearly all regions worldwide. Its indicator's present level is now slightly below its long-term average of 96.1 points, Ifo noted in a statement.

"Although assessments of the current economic situation deteriorated compared to last quarter, expectations remained positive," said Hans-Werner Sinn, president of the Ifo institute, adding "there was still no major upswing in the world economy in the third quarter."

In addition, the statement said that long-term interest rates are largely expected to grow over the next six months, especially in the U.S..

Ifo institute has conducted a quarterly survey in numerous countries on business cycle developments and other economic factors since 1981. The results of this survey are based on responses of more than 1,000 experts from over 100 countries and regions.