Business mood improves for second month

Greek economic sentiment improved for a second straight month in February on expectations for a milder recession this year, in comparison with 2010, according to a survey prepared by the Foundation for Economic and Industrial Research (IOBE).

IOBE said its economic climate index ? based on business expectations sub-indices covering industry, construction, retail trade, services and consumer confidence ? rose to 79.4 points, from 76.1 in January and 73.7 in December.

?Survey results indicate a calmer assessment of economic developments and a possible expectation that conditions in 2011 will be less negative than in 2010,? IOBE said in a statement.

Improved sentiment was recorded in all sector categories, with the exception of the services industry, where plunging demand estimates offset a small increase in current turnover levels, according to IOBE.

In the eurozone, economic sentiment also improved in February, with the index hitting 107.8 points, versus 106.8 in January.