Greek consumer sentiment indicator eased to 113.2 points in March from 114 in February, but remained close to its highest level in the last year (2021), the Foundation for Economic and Industrial Research (ΙΟΒΕ) said.
Business expectations deteriorated strongly in the services sector and less in the retail commerce, but improved in industry and constructions, IOBE said in the report. Business expectations in the retail commerce deteriorated in March for the third month in a row, hit by rising inflationary pressures and the war in Ukraine. IOBE said the impact of the war is reflected mainly in consumer confidence which fell in March to the lowest level in 16 months after a two-month advance.
IOBE said that geopolιtical and economic developments are expected to become the main factors for the conditions to prevail in the Greek and global economy. In an economic level, initial impact on energy cost is felt on the supply of certain consumer products and raw materials. However, long-term impact on supply chains cannot be safely estimated.