The Greek economic sentiment indicator rose to 112.4 points in October, recovering after a slight decline in September and moving in line with a similar trend in the Eurozone and the EU, the Foundation for Economic and Industrial Research (IOBE) said on Monday.
More specifically, this increase was attributed to a significant improvement of business expectations in the industrial and retail commerce sectors, while consumer confidence weakened further and business expectations in the construction sector eased. IOBE said increased business activity in the retail commerce and an extended strong increase in tourism supported the improved trends.
The report, however, noted that concern was rising over price increases in energy and other goods, along with a resurgence of the pandemic, while vaccination rates remained low. In the industrial sector, business expectations turned positive over new orders and demand while estimates over inventories de-escalated. In the construction sector, business expectations were slightly changed while estimates over employment deteriorated. In retail commerce, business expectations over current sales improved further, while the services sector, positive estimates over the current condition of enterprises rose slightly along with expectations over demand. Greek households were more pessimistic over their finances and the country’s finances, along with estimates over purchases and savings.