World Economic Survey: 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.

Notes to Editor
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.

About the International Chamber of Commerce (ICC) in Ireland
Chambers Ireland is the official representative of the International Chamber of Commerce in Ireland. ICC is the largest, most representative business organisation in the world. Its hundreds of thousands of member companies in over 120 countries have interests spanning every sector of private enterprise.

A world network of national committees keeps the ICC International Secretariat in Paris informed about national and regional business priorities. More than 2,000 experts drawn from ICC’s member companies feed their knowledge and experience into crafting the ICC stance on specific business issues.

The United Nations, the World Trade Organisation, the G20 and many other intergovernmental bodies, both international and regional, are kept in touch with the views of international business through ICC.

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