Greece’s eco­nomic cli­mate shows fresh de­te­ri­o­ra­tion

Kathimerini English - - Business & Finance -

The eco­nomic cli­mate in­dex in Greece de­clined for a sec­ond month in suc­ces­sion in April, drop­ping to 74.2 points from 78.4 points in March, ac­cord­ing to a sur­vey con­ducted by the Foun­da­tion for Eco­nomic and In­dus­trial Re­search (IOBE). The new de­cline is at­trib­uted to the de­te­ri­o­ra­tion of the cli­mate in in­dus­try and re­tail com­merce, while there has been a clear drop in con­sumer con­fi­dence. The in­dex has now re­turned to last year’s lev­els, which means that one year af­ter Greece re­sorted to the 110-bil­lion-euro bailout loan, the ex­pec­ta­tions of cor­po­ra­tions and con­sumers have not im- proved, the sur­vey re­ports. Worse, the al­ready neg­a­tive ex­pec­ta­tions for un­em­ploy­ment have marginally in­creased, with the fear of be­ing made re­dun­dant re­main­ing strong among most con­sumers.

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