Consumer confidence down, says IOBE

The Federation for Economic & Industrial Research (IOBE) said the economic climate index in Greece has plummeted by 7 points to 90.1 from 97.3 compared to the respective month in 2015.

The body also points to a drop in consumer confidence to 2013 levels. At the same time IOBE recorded a marginal rise in the economic climate index compared to February 2016 when it stood at 89 points.

The drop in consumer confidence is attributed to the bleak predictions of household for their financial state in the next 12 months, as well as the overall bad state of the Greek economy, especially the unemployment figures. As far as the Eurozone goes, IOBE’s projections are also negative with the climate deteriorating fir a third month in a row. More specifically the following countries had negative outlooks: Italy (-2.4), France (-1.8), Holland (-0.9), Spain (-0.4) and Germany (-0.1).