WORLD ECONOMY STILL IN RECOVERY, SENTIMENT COOLING

PARIS – A new ICC-Ifo World Economic Survey reveals declining optimism over global economic recovery as fear continues to spread about the unsolved debt crisis in Europe. The Survey, which received responses from 1,079 experts in 123 countries, saw the world economic climate indicator fell to 85.1 in Q3 2012 after two successive increases. The results are significantly below the long-term average of 96.7 (1996-2011) for the Survey, conducted by the Munich-based Ifo Institute for Economic Research and the International Chamber of Commerce (ICC).