Greek economic sentiment index unchanged in Nov
Greek economic sentiment index remained unchanged in November from the previous month, the Institute for Economic and Industrial Research (IOBE) said on Tuesday.
In a monthly report, IOBE said the index was unchanged at 86.5 points, evidence of a wait-and-see attitude prevailing in economic activity in the country at this stage. The index is significantly lower compared with an 102.8 point reading in November 2014.
Business expectations improved in the manufacturing and retail commerce sectors, but deteriorated in services, constructions and consumer confidence.
The report noted that a new bailout agreement with the institutions was currently underway, but uncertainties still remained strong.
More analytically, business expectations in the manufacturing sector remained unchanged over production levels, in the services sector expectations over current demand remained unchanged but forecasts over the short-term trend of demand improved slightly.
In the retail sector, negative forecasts over current sales and short-term developments showed signs of improvement, while inventories grew slightly.
In the construction sector, expectations deteriorated further.
Consumer confidence among Greek households deteriorated in November, as households became more pessimistic over developments in their finances and the country’s economic condition in the next 12 months.
Economic sentiment remained unchanged in the EU and the Eurozone in November, but remained above the long-term average level.
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