ECONOMY

Economic sentiment returning to pre-pandemic levels

economic-sentiment-returning-to-pre-pandemic-levels

The economy appears ready to rebound for good, as the Economic Sentiment Index of the Foundation for Economic and Industrial Research (IOBE) has returned to the same high it enjoyed before the pandemic, reaching 108.6 points in May, from 97.9 points in April.

Even more impressive was the report by IHS Markit on the Purchasing Managers Index for manufacturing, which soared to a 21-year high in May.

The return of production-orientated enterprises to normality is also reflected by the reduction of deposits by corporations by 543 million euros in April, according to the latest data from the Bank of Greece.