Thursday October 2, 2014 Search
Weather | Athens
28o C
16o 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)  
Attica Bank said to have rejected notable offers
PMI index slides anew in September
Costa Navarino to host big events
Construction of F1 circuit at Patra to start by year-end
Terror group link prompts police raids and arrests
Police found a Kalashnikov assault rifle, a handgun, a hand grenade and numerous bullets Wednesday while searching homes in Athens and Thessaloniki used by six people who were detained and a...
Samaras to seek confidence vote in bid to rally coalition
The government said on Wednesday that it will request a vote of confidence when Parliament reconvenes after the summer recess next week, seeking to douse speculation about early elections an...
Inside News
SOCCER
Rosenberg punishes Olympiakos´s errors at Malmoe
A disappointing Olympiakos got the worst possible result from its clash with Malmoe in Sweden for the Champions League, going down 2-0 on Wednesday due to its own defensive errors and attack...
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
Inside Sports
COMMENTARY
Truth before the battle
The coalition has lost its sense of direction in the last few months. Exactly where things went off track is not the question at this stage. What is certain is that if it continues competing...
EDITORIAL
Bending the rules
The flexibility with which laws are implemented has been a fundamental cause for concern in Greece during the post-dictatorship era. Everything becomes a subject for negotiation, even in cas...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Rosenberg punishes Olympiakos´s errors at Malmoe
2. Terror group link prompts police raids and arrests
3. Samaras to seek confidence vote in bid to rally coalition
4. Attica Bank said to have rejected notable offers
5. PMI index slides anew in September
6. Costa Navarino to host big events
more news
Today
This Week
1. Air-raid sirens to go off all over Greece at 11 a.m. in drill
2. Mario Draghi to push ECB to buy Greek, Cypriot 'junk' loans: FT
3. Truth before the battle
4. Smallpox decimates sheep stocks in northern Greece
5. Thessaloniki transport gets more expensive
6. Bending the rules
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.