Expectations in industry nosedived last month

Expectations in industry nosedived last month

Business expectations in industry deteriorated last month, with the index compiled by the Foundation for Economic and Industrial Research (IOBE) for Hellenic Production – Council of Industries for Growth showing a significantly lower reading than in February.

IOBE attributes this development to the significant weakening of business sentiment across all economic sectors and says it reflects a correction in the possibly excessively optimistic expectations noted in previous months.

The Foundation added that the next couple of months will indicate whether this development is a one-off or the start of a trend.

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