Monday Jan 26, 2015 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Sentiment returns to pre-crisis level

 Economic mood recovers on consumer confidence rise and forecasts for industry and construction rebound

The economic mood in Greece has returned to pre-recession levels as the sentiment index of the Foundation for Economic and Industrial Research (IOBE) rose from 94.8 points in February 2014 to 97.5 points last month, the highest since summer 2008, it was announced on Wednesday.

The survey also recorded a rebound in business expectations in industry and construction, a decline in retail commerce and relative stability in services. After two months of decline, consumer confidence is also on the rise, having reached the highest level seen in four years, although it remains in negative territory – i.e. below 100 points.

IOBE has gleaned positive messages regarding the course of the economy as well as specific developments such as the successful completion of the negotiations with the country’s creditors without any new measures for this year, and the handing out of benefits to social groups thanks to 2013’s positive fiscal results, which are having a favorable impact on expectations among both citizens and enterprises.

Nevertheless IOBE stressed that the abovementioned conditions do not mean that the financial difficulties of previous months have gone away, as they continue to exist largely as cumulative effects of the crisis.

In terms of consumer confidence, forecasts regarding the state of household finances and the country’s economy for the next 12 months have recorded a notable rise, while intentions to save money remain virtually unchanged, with the negative expectations concerning unemployment having been contained.

The constant slowdown of the economic contraction, reflected in official fiscal figures, is creating expectations that the economy will stabilize, with possible benefits for employment.

In industry, the forecasts for short-term growth in output are gaining ground, while estimates about the current level of orders and demand are slightly weakening. In the service sector the enterprises’ estimates regarding their current activity and demand are deteriorating, but this is offset by growth forecasts for demand in the near term.

Negative estimates for retail commerce are strengthening, while the negative outlook for construction remains stable although the sector’s employment index is on the rise.

ekathimerini.com , Wednesday April 2, 2014 (23:00)  
Talks with troika the main test
Fiscal gap from revenues at 2.3 bln euros
Liquidity noose tightening around local lenders’ necks
Banks make plans for tackling impact of Swiss franc’s growth on borrowers
SYRIZA heads for historic victory but without majority
SYRIZA was on the verge of a historic election victory on Sunday night but one that might not hand the leftist party an outright parliamentary majority, raising doubts about whether a govern...
Prison probes violent attack against N17 convict Xeros
Authorities at Domokos Prison in central Greece were investigating over the weekend an attack by an inmate on November 17 terrorist Christodoulos Xeros. According to Xeros’s lawyer, Fragisko...
Inside News
SOCCER
Olympiakos overcomes depleted OFI at Iraklio
Easy though it may seem, Olympiakos’s 3-0 win at depleted OFI Crete was rather difficult on Saturday, but was enough to keep the Reds on top on Saturday, as they have maintained their two-po...
BASKETBALL
Tremendous Spanoulis sweeps Laboral Kutxa
A hot second half was enough for Olympiakos to undo visiting Laboral Kutxa and score its fourth win in as many games at the second round of the Euroleague on Friday. The 76-64 final score wa...
Inside Sports
FOCUS
A SYRIZA government in Greece: what it wants and what might be possible
The left-wing SYRIZA party led by Alexis Tsipras looks likely to win the Greek general election on Sunday after campaigning on a pledge to renegotiate the country’s international bailout and...
COMMENTARY
The train
If we go by the polls, SYRIZA is set to win Sunday’s election and form a government. New Democracy did not really campaign, or perhaps it did so in a way that can only be explained if the pa...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. SYRIZA heads for historic victory but without majority
2. Prison probes violent attack against N17 convict Xeros
3. Talks with troika the main test
4. Fiscal gap from revenues at 2.3 bln euros
5. Liquidity noose tightening around local lenders’ necks
6. Banks make plans for tackling impact of Swiss franc’s growth on borrowers
more news
Today
This Week
1. SYRIZA heads for historic victory but without majority
2. Greek Elections 2015 | LIVE
3. Greek Elections 2015 Results | LIVE
4. Greeks vote for reform path or defiance
5. A SYRIZA government in Greece: what it wants and what might be possible
6. Exit polls suggest big margin of victory for SYRIZA
Today
This Week
1. Greek Elections 2015 | LIVE
2. Grexit the only way out of ‘valley of tears,’ says Hans-Werner Sinn
3. Greek Elections 2015 | LIVE
4. No debt writedown or rolling back of reforms for Greece, says Finland's Stubb
5. Greeks fork out nearly 5 pct of their incomes on telecom services
6. QE exclusion a ‘de facto Grexit’
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.