Greek economic sentiment index up in February

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Greek economic sentiment index rose slightly to 91.9 points in February from 90.7 in January, the Foundation for Economic and Industrial Research (IOBE) said on Monday.

In a monthly report, IOBE said that a relatively milder situation of the pandemic after the Christmas and New Year holidays and the operation f the retail commerce sector helped improve business expectations in a significant part of the economy, as progress in the distribution of vaccines. On the other hand, a deterioration of the pandemic situation by mid-February, combined with stricter restrictive measures imposed, revived uncertainties over the development and the impact of the pandemic in the country.

The survey partly incorporates the impact of recent restrictive interventions in Attica, Thessaloniki and other regions of the country. IOBE noted that it was still early to make a total assessment of the economic impact of the pandemic.

More specifically, business expectations in the industrial sector showed a slight improvement in a negative balance of estimates over orders and demands, while positive estimates over production in the coming months changed markedly. In the construction sector, negative estimates over production eased, but negative estimates over employment were steeper. In the retail commerce, negative estimates over current sales changed markedly, along with negative estimates over their short-term trends, while inventories rose. In the services sector, negative estimates over the current condition of enterprises improved.

In consumer confidence, households were more pessimistic over the country’s finances, in contrast with their estimates over their own finances. Household estimates over purchases and savings deteriorated in February.

Source APE-MPE
Athens, Greece

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