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- Summertime sadness appeared to dominate among academia experts, as professors’ mood darkened in July amid worries over the Greek debt crisis and the country’s future within the Euro zone as well as China’s stock rout. However, the three-year economic sentiment indexes for all regions surged in the reported month, signaling economists’ confidence that the world economy will strengthen in the long-run.
- While the six-month economic outlook for the global economy deteriorated in July, with the corresponding index declining by 0.04 points, the three-year sentiment index rose sharply.
- After the Greek parliament approved a raft of painful austerity measures to unlock a third bailout package worth 86 billion euros, and the BoE Governor hinted that UK interest rates could rise "at the turn of the year", professors’ concerns were alleviated. Moreover, the three-year sentiment index soared to 0.68, the highest level since June 2014.
- North American economy saw the gauge measuring professors’ economic expectations over the course of next six month falling by 0.06 points. Nevertheless, professors were increasingly confident that the region’s economy would build momentum in the long-run.
- Experts were less optimistic about the Asian-Pacific short term economic future in light of the recent Chinese stock market rout and the government’s vain attempt to support the financial system. However, the three-year sentiment index hit a one-year peak.
