BUSINESS

SMEs confidence index jumps up

TAGS: Business, Economy

Small and medium-sized enterprises are experienced a surge of confidence in their economic prospects.

Research by National Bank of Greece on a sample of 1,160 firms with turnover of less than 10 million euros showed the confidence index jumping to a 10-year high of 18 in the first half of 2019, up from 13 in the second half of 2018.

Fifty-five percent of the sampled firms expect business to expand, due to higher demand.

Also, 78 percent reported higher profits and 23 percent expect to hire more people, while only only 9 percent expect an employment contraction.

The confidence index has risen by 25.6 points over the past four years, meaning that it was negative back then.

In the same period, the confidence index of European Union SMEs rose by just 3 points.

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