Wednesday, the Munich-based Ifo Institute for Economic Research said its economic climate index for the Eurozone rose to 55.1 in the second quarter from 45.8 recorded in the first quarter. That was the first improvement since autumn 2007.

The rise in the Ifo indicator was a consequence of less negative expectations for the coming six months. The economic expectations index rose to 76 from 49.6. However, the assessments of the current economic situation have worsened further and now stand at an all-time low of 29.9.

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