Sunday November 23, 2014 Search
Weather | Athens
18o 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 countrys creditors without any new measures for this year, and the handing out of benefits to social groups thanks to 2013s 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 countrys 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 sectors employment index is on the rise.

ekathimerini.com , Wednesday April 2, 2014 (23:00)  
Fitch keeps Greek rating at B, outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partys former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Is Europe paying attention?
Barack Obama brought hope to the entire world when he was elected president of the United States in 2009 and then again in 2012 for a second term. During his first visit to Europe, marked by...
EDITORIAL
A reasonable agreement
Greece cannot and should not allow itself to be left without a safety net to make up for any funding needs that may crop up after the end of the year. Without such protection it would be at ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govt nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. Fitch keeps Greek rating at B, outlook stable
2. Piraeus nightclub shooting leaves 3 seriously injured
3. Climate change to hit farming, Greek coastline
4. PASOK nixes Papandreou leadership challenge
5. Cyprus on agenda in Biden visit to Istanbul
6. Troika tests govt nerves as budget rift persists
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.