Saturday December 20, 2014 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)  
Workers rush to get early retirement
Piraeus Containter Terminal goes from strength to strength
Moscovici: Creditor inspections to become less frequent and ‘lighter’
Property capital gains tax halt
Environment Ministry to reconsider controversial bill
The government over the weekend appeared to backpedal on proposed amendments widely seen as compromising legislation protecting Greek forests as well as Plaka, Athens’s old quarter. The bill...
Corfu to host country’s first hydroplane strip
Merchant Marine Minister Miltiades Varvitsiotis and Deputy Infrastructure and Transport Minister Michalis Papadopoulos have signed a decision paving the way for the country’s first hydroplan...
Inside News
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
COMMENTARY
The big picture
In his second term, US President Barack Obama is taking steps to enshrine his legacy and solidify America’s standing in the 21st century. His recent decision to normalize relations between t...
EDITORIAL
Get your facts straight
The danger that political discourse in Greece will sink to the basest levels of vulgarity is already more than apparent from the allegations we have heard bandied about over recent days. The...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Environment Ministry to reconsider controversial bill
2. Corfu to host country’s first hydroplane strip
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Police gets new communications system
5. Most Greeks say they recycle daily
6. Probe into revenues of 2 mln euros in Halkidiki municipality
more news
Today
This Week
1. The big picture
2. Get your facts straight
3. Changes on E9 property declarations possible until end-year
4. Political upheaval sharpens after bribe claims with threats and insinuations
5. Environment Ministry to reconsider controversial bill
6. Probe into revenues of 2 mln euros in Halkidiki municipality
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Europe's drama in Greece needs final act to avoid tragedy
6. High stakes
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.