Eco­nomic sen­ti­ment slips to 5-month low

Kathimerini English - - Business & Finance -

Greece’s eco­nomic sen­ti­ment eased marginally in May from the pre­vi­ous month, dip­ping to a 2011 low, as con­sumers re­main down­beat about the state of the econ­omy and their own per­sonal fi­nances, ac­cord­ing to the Foun­da­tion for Eco­nomic and In­dus­trial Re­search (IOBE).

IOBE said in a monthly re­port yes­ter­day that its eco­nomic cli­mate in­dex – based on busi­ness ex­pec­ta­tions, subindices cov­er­ing in­dus­try, con­struc­tion, re­tail trade, ser­vices and con­sumer con­fi­dence – inched lower to 74 points, from 74.2 in April and 78.4 in March.

“Ex­pec­ta­tions among busi­nesses and con­sumers can­not eas­ily sta­bi­lize in a cli­mate of un­cer­tainty as the fis­cal ad­just­ment con­tin­ues and the mix of aus­ter­ity mea­sures be­come more de­mand­ing,” the re­port said.

With al­most all house­holds ex­pect­ing fur­ther hikes in un­em­ploy­ment in the next 12 months, Greek con­sumers have be­come the most pes­simistic in the EU, the re­port added.

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