Economic sentiment index rebounded in December

Economic sentiment index rebounded in December

The Greek economic sentiment index grew to 104.3 points in December from 101.4 in November, to reach nine-month highs, the Foundation for Economic and Industrial Research (IOBE) said on Monday.

In its monthly report, IOBE said this development was in line with the trend prevailing in Europe and reflected an improvement in business expectations, mostly in the manufacturing sector and to a lesser extent the services sector, while consumer confidence recovered to early 2021 levels. On the other hand, expectations in retail commerce deteriorated despite the holiday season, as in private construction.

Uncertainties related with inflation and the wider international environment remain strong but have been embodied in business expectations and a gradual weakening of uncertainties is expected later this year. IOBE said the economic sentiment index could rise further, as usually happens during pre-election periods, with households and enterprises expecting measures to their benefit.

Business expectations in the manufacturing sector recorded a significant weakening of negative estimates on new orders, while estimates over production trends in the coming months rose slightly.

In the construction sector, negative estimates over production fell sharply, in retail commerce estimates over current sales fell significantly, in the services sector positive estimates over the current condition of enterprises changed slightly, while households’ negative estimates over the country’s finances fell markedly, along with estimates over their own finances.

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