ECONOMY

Consumer confidence slumps to eight-month low

consumer-confidence-slumps-to-eight-month-low

Consumer confidence dropped in October to its lowest point in eight months, according to a monthly survey by the Foundation for Economic and Industrial Research (IOBE), as price hikes and the latest wave of the pandemic appear to increase pessimism in Greek households.

The consumer confidence index dropped last month to -44.7 points, from -38.3 points in September, with Greek consumers being the most pessimistic in the European Union.

On the other hand, the economic sentiment index advanced to 112.4 points, from 109.7 points in September, thanks to the increase in retail turnover and the extended tourism season.