Sen­ti­ment in econ­omy posts marked re­cov­ery

Kathimerini English - - Front Page -

Eco­nomic sen­ti­ment in Greece saw a sig­nif­i­cant im­prove­ment last month as the econ­omy is seen to be be­com­ing more sta­ble and some growth is an­tic­i­pated in the lat­ter half of the year, ac­cord­ing to the monthly survey of the Foun­da­tion for Eco­nomic and In­dus­trial Re­search (IOBE), pub­lished yes­ter­day.

The Eco­nomic Cli­mate In­dex in Greece climbed to 102.2 points in Oc­to­ber, rev­ers­ing the de­cline recorded in Septem­ber when the in­dex had dropped be­low the zero-op­ti­mism mark of 100 points to 99.3.

Ac­cord­ing to IOBE, the con­tin­u­ing sta­bi­liza­tion of the cli­mate could be as­so­ci­ated with the grad­ual ebbing of the re­ces­sion in pre­vi­ous months and the rev­ers­ing of the trend in the un­em­ploy­ment rate, with of­fi­cial data show­ing it shrink­ing. The pic- ture of the in­dex is com­pat­i­ble with con­fi­dence that the econ­omy is en­ter­ing pos­i­tive growth ter­ri­tory, along with a re­ver­sal in the re­duc­tion in con­sump­tion.

While forecasts on in­dus­try, re­tail com­merce, con­sumer con­fi­dence and con­struc­tion are all im­prov­ing, ex­pec­ta­tions in man­u­fac­tur­ing took a dip in Oc­to­ber, the IOBE data have shown.

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