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GreeceBusinessGreek economic sentiment index eased in October

Greek economic sentiment index eased in October

Hellenic News of America
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Greek economic sentiment index eased to 106.4 points in October from 107.7 in September, reflecting a decline in business expectations in the retail commerce, weaker expectations in industry and services and more optimistic expectations in the construction sector, the Foundation for Economic and Industrial Research (IOBE) said on Wednesday.

More specifically, the Foundation said that the economic sentiment index was moving above last year’s levels so far in 2023 and in contrast to a decline in relative indices in the EU and the Eurozone, reflecting positive climate traditionally prevailing during election years. However, optimism is gradually falling because of geopolitical tensions, tighter fiscal room and uncertaint over the nflation rates.

Business expectations in the industrial sector showed a further decline in the negative balance of estimates over new orders and demand, while positive expectations over production in the coming months improved slightly. In the construction sector, negative expectations over production eased, while positive estimates over emploment improved. In the retail commerce, estimates over current sales fell strongly and estimates over short-term trends rose. In the services sector, positive estimates over the current condition of enterprises eased along with estimates over demand.

In consumer confidence, negative estimates by Greek households over the country’s fiscal condition rose further along estimates over their own economic condition, while estimates over major purchases improved along with saving intentions.

SOURCE; ANA-MPA

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