Economics: IFO not a true reflection of European economy

While the IFO world economic climate indicator improved during the second quarter of 2006, economist...

While the IFO world economic climate indicator improved during the second quarter of 2006, economists warn this does not accurately reflect the current situation in Europe. The IFO Institute for Economic Research in Germany produces data on the national and international economic situation and its development and its most commonly referred to product is the IFO Business Climate, which is based on the IFO Business Survey and the world economic climate indicator. However, Sebastian MacKay, economist at Scottish Widows Investment Partnership, says the correlation between recent survey data a...