Measures weigh on sentiment
Greece’s economic sentiment fell to the lowest level in six months in February and may drop further on concerns that government measures to help get the country through its debt crisis will weaken domestic demand. An index measuring short-term economic trends slipped to 72.4 from 76.1 in January, according to the Foundation for Economic & Industrial Research (IOBE). Consumer confidence declined for a fourth month to minus 50.5, the foundation said. «It’s certain that the new measures announced will have a negative impact on demand and the index is expected to drop further in March,» IOBE said in a statement. «However, it was necessary to finalize [the measures] so that businesses and consumers can start making the necessary adjustments to the situation.» Economic sentiment among the European Union’s 27 member states was broadly steady in February at 97.4 versus 97.2 in January, IOBE added.