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Economic sentiment up in Nov.
Greece’s economic sentiment index rose to 79 points in November, up from 75.8 in October, the highest level in the last 20 months, the Institute for Economic and Industrial Research (IOBE) announced on Tuesday.
IOBE, in its monthly report, attributed this positive development to less pessimistic expectations prevailing in the retail commerce and consumer confidence, while business expectations in the manufacturing and services sectors remaining almost unchanged, with constructions weakening further.
IOBE said this improvement confirmed the view that prolonged negotiations with the troika and uncertainty over their outcome dampened sentiment in the Greek economy in the previous months, with the climate improving soon after the successful completion of negotiations. The survey did not engulf the outcome of negotiations in a recent Eurogroup meeting.
More analytically, business expectations in the manufacturing sector improved slightly over short-term production, although expectations over the current level of orders and demand eased slightly and inventories remained unchanged.
In the services sector, business expectations over their current activity improved, although expectations over demand fell in November.
In the constructions sector, the index of business expectations fell reflecting negative changes in employment.
The consumer confidence index remained negative, while there were some signs of improvement in consumers’ intention to save in the next 12 months and developments in the unemployment rate.
SOURCE: AMNA
