BUSINESS

Economic sentiment posts decline, Commission says

TAGS: Economy

Greece’s economic sentiment index has dropped back to a level unseen since last December, according to figures released on Thursday by the European Commission. The index reading in Greece has fallen to 101.3 points this month, from 105.2 points in the previous monthly survey.

This development generates significant concern as it comes a month after the formal completion of the bailout program of fiscal adjustment and after the various announcements by political leaders at the Thessaloniki International Fair.

Still, the index stands higher than a year earlier, when the reading was at 100.6 points.

According to the data from Brussels, sentiment is down this month, compared to August, in the sectors of industry, services and construction. In contrast, a rise was recorded in retail commerce and in the consumer confidence index.

The details as well as an analysis of the decline in economic sentiment are expected on Monday, when the Foundation for Economic and Industrial Research (IOBE) will publish its monthly Business and Consumer Surveys.

Brussels also reported a 0.7-point decline across the eurozone a 0.9-point drop in the European Union in September.

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