World Economic Climate Continues to Improve

Chambers Ireland has today welcomed the results of the Ifo World Economic Survey, which forecasts accelerated growth in both Europe and the USA during 2015.

Speaking today, Ian Talbot, Chief Executive, Chambers Ireland said, “The results of this survey provide further evidence that the economic situation globally is improving. Ireland needs to take advantage of this positive economic climate but must continue to implement the long term reforms necessary to ensure our competitiveness and growth into the future.”

“Irish businesses are well placed to take advantage of the predicted growth in the US in particular. This opportunity will be enhanced by the implementation of the EU / US Trade Agreement currently under negotiation,” he concluded.

About the World Economic Survey

Over 1,092 economic experts from business and academic institutions in 115 countries were surveyed to assess current and expected economic developments. Their answers were analyzed to reach a quarterly figure representative of the current global economic climate. The survey is carried out by the International Chamber of Commerce (ICC), of which Chambers Ireland are a member, and the Munich-based Institute for Economic Research (Ifo).

Key Findings:

According to assessments by WES experts:

  • Economic growth in Europe (1.7 percent) and the USA (2.7 percent) will accelerate this year.
  • The forecast growth rates for Latin America (1.3 percent) and Asia (3.6 percent), by contrast, are lower than last year’s figures.
  • Experts expect Russia and the Ukraine to be hit by a deep recession.

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