IOBE: Consumer, business confidence slightly up in May; negligible impact of campaign bonus by Tsipras govt

3 June 2019
147 Views

A slightly improved economic climate was recorded in Greece last month, compared with April 2019, with relevant consumer and business confidence indexes, nevertheless, still moving at a lower rates than in the same month of 2018.

According to a monthly bulletin by the Foundation for Economic & Industrial Research (IOBE), indexes were affected by the pre-election climate in the country, as European Parliament elections were held in the last Sunday of May, although the impact of results was not measured in the latest study.

IOBE’s economic climate index showed a marginal increase in May 2019, reaching 100.8 points, up from 100.3 points the previous month, but down from 103.6 points in May 2018.

Expectations by the retail sector and service businesses were up, with the same sentiment falling in the construction sector. The consumer confidence index rose for a third straight month.

One noteworthy result cited in the IOBE study is the lack of a significant impact on consumer confidence from the abrupt allocation of an extra monthly benefit doled out by the Tsipras government, which it dubbed as a so-called “13th pension”. Greek PM Alexis Tsipras himself took to the national airwaves to announce the bonus for all social security beneficiaries in the country – up to 500 euros, gross – just ahead of European Parliament elections. Nevertheless, Tsipras and his hard left SYRIZA party subsequently suffered a convincing loss in both the Europarliament election and across-the-board in municipal and regional government races.

You may be interested

GREECE
shares34 views

Lotto results: 17/08/2019

Panos - Aug 17, 2019

The winning numbers from the Lotto draw are as follows:

KAS to meet in bid to change rules on Elliniko project
GREECE
shares51 views
GREECE
shares51 views

KAS to meet in bid to change rules on Elliniko project

makis - Aug 16, 2019

The Central Archaeological Council (KAS), Greece’s top advisory body on the protection of antiquities, which has quite a few new…

Ancient pyramid found on Aegean island reveals beginnings of ancient Greek civilisation
GREECE
shares125 views
GREECE
shares125 views

Ancient pyramid found on Aegean island reveals beginnings of ancient Greek civilisation

Panos - Aug 16, 2019

The long-buried structure, dating back at least 4,600 years, was constructed of marble transported from nearby Aegean islands on tiny…

Leave a Comment

Your email address will not be published.