ECONOMY

Economic sentiment remained unchanged in November, says IOBE

Economic sentiment in November was unchanged from the previous month, according to the Foundation for Economic & Industrial Research (IOBE) think-tank.

IOBE’s economic climate index, which combines consumer confidence with sub-indexes of business expectations in industry, construction, retail trade and services, remained fixed at 91.2 points, which was the same as October’s figure.

Sentiment rose considerably this year, hitting 92.6 points in May, which was the highest it had been since September 2008. But numbers have dropped slightly since the summer.

Last month, IOBE forecast that the Greek economy would shrink by 4.1 to 4.2 percent this year and that the country’s unemployment rate will average out at 27.5 percent.