Greek economic sentiment index up to 91.6 points in Jan

1 February 2016
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Greek economic sentiment index rose significantly to 91.6 points in January, from 87.1 in December, but remained below a 95.9 point level recorded in January 2015, the Institute for Economic and Industrial Research (IOBE) said on Monday.

In a monthly report, IOBE attributed this development to improved expectations in all business sectors, particularly in services. “The picture of total stabilization recorded in the last few months in business activity is not reversed although expectations remained still below last year’s levels. On the other side, consumer confidence weakened as expectations over households’ finances in the next 12 months deteriorated significantly, discounting negative developments in family income due to expected changes in social insurance,” IOBE said in the report.

More analytically, expectations in the manufacturing sector remained almost unchanged over production levels in the next few months, estimates over inventories were slightly better and negative expectations over new orders and demand deescalated.

In the services sector, negative estimates over current situation and current demand improved, while expectations over short-term demand turned positive for the first time since December 2014.

In the retail sector, negative estimates over current sales remained unchanged while estimates over short-term developments gained ground.

In the construction sector, an improving climate was based on expectations on current work levels and a rise in employment.

In consumer confidence, expectations over households’ finances deteriorated further while expectations over the country’s finances deteriorated slightly. Expectations over unemployment and saving improved slightly.

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