Greek economic sentiment index improved slightly in June, to 94 points from 93.2 in May and 90.2 points in June last year, the Foundation for Economic and Industrial Research (IOBE) announced on Monday.
IOBE, in a monthly report, noted business expectations improved in the industrial, construction and services sectors, while it worsened in the retail commerce sector. Consumer confidence moved higher in June. The Foundation said that the completion of a review of the Greek program positively affected business expectations although not to the extent it was expected. “At the start of the third quarter of the year -a significant period for the economy because of tourism revenues- the economy remains stsable and expectations at a standstill,” the report said, adding that more clear evidence of the dynamism of the economy was expected by autumn.
More specifically, business expectations in the industrial sector ameliorated both in estimates on production, new orders and demand, although estimates on inventories remained unchanged. In the construction sector, estimates over pending works deteriorated, along with estimates over employment in the sector. In the retail sector, estimates over current sales improved slightly, but deteriorated in the short-term and estimates over inventories moved higher. In the services sector, estimates over current situation of enterprises improved slightly along with estimates over current demand.
Consumer confidence recorded a significant improvement of negative balance on unemployment, estimates over households’ finances deteriorated and saving intentions remained unchanged.
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Photo Source: iobe.gr
Source: ANA-MPA
