Sunday December 21, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Economic sentiment improves slightly in March

Economic sentiment in Greece improved slightly in March after the country pulled through a debt cut plan that paved the way for a new EU/IMF bailout, the country's leading economic institute said on Thursday.

The Foundation for Economic and Industrial Research(IOBE)said its index -- based on consumer confidence gauges and indexes for business expectations in industry, construction, retail trade and services -- rose to 75.7 points from 74.9 points in February.

"The successful implementation of the bond swap and expectations that banks will be recapitalized have contributed to a stabilization (of the economic climate), IOBE said.

The mood improved among industry, services and consumers while it worsened further in construction and the retail trade.

The reading, however, remains at depressed levels, near its historic low of 67.2 points in March 2009 and well below its 10-year average of 96.3 points, according to IOBE figures.

"Uncertainties over the course of the economy persist, IOBE said, citing firms' and households lingering doubts over the country's capacity to implement the budget cuts and economic reforms that are part of the bailout.

Greece's economy, which accounts for about 2.5 percent of the eurozone, is seen staying in recession for a fifth straight year in 2012. It slumped by 6.9 percent in 2011, its worst performance since the World War II.

With unemployment rising and wages squeezed by higher taxes, Greek consumers remain the most pessimistic in Europe, IOBE said. Seventy-six percent of them expect their economic situation to worsen further in the coming 12 months, slightly down from 84 percent in the previous month.

Consumers' propensity to save dropped to a record low in March, with 92 percent of respondents saying they don't expect to have any spare cash to bolster their bank accounts over the coming year.

The uptick in Greece's overall economic sentiment compared with a slight drop in the corresponding eurozone reading in March, to 94.4 points in March from 94.5 in February. [Reuters]

ekathimerini.com , Thursday April 5, 2012 (16:36)  
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, Athenss old quarter. The bill...
Corfu to host countrys 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 countrys 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 Americas 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 countrys 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. Get your facts straight
2. The big picture
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Environment Ministry to reconsider controversial bill
5. Changes on E9 property declarations possible until end-year
6. Police gets new communications system
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. A friendly yet firm message from Pierre Moscovici
3. Europe's drama in Greece needs final act to avoid tragedy
4. High stakes
5. On the edge but not gutless
6. Gap between SYRIZA and New Democracy closing, says poll
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.