Sen­ti­ment posts small im­prove­ment

Kathimerini English - - Focus -

Busi­ness and­con­sumer ex­pec­ta­tions have not im­proved as much as an­tic­i­pated fol­low­ing the con­clu­sion of the sec­ond bailout re­view, ac­cord­ing to a monthly sur­vey by the Foun­da­tion for Eco­nomic and In­dus­trial Re­search (IOBE), whose re­sults were re­leased yes­ter­day.

In its re­port with the June re­sults, IOBE states that a fur­ther clar­i­fi­ca­tion of the di­rec­tion of the Greek econ­omy can be ex­pected in the fall, pro­vided there is progress on two cru­cial as­pects of the bailout pro­gram: the re­duc­tion of un­cer­tainty over the econ­omy’s medium-term fi­nanc­ing, and the im­prove­ment of con­di­tions for at­tract­ing in­vest­ments and job cre­ation.

The eco­nomic sen­ti­ment in­dex rose to 94 points last month, from 93.2 points in May and 90.2 points in June 2016. The busi­ness ex­pec­ta­tions in­dex in in­dus­try posted a four­point rise from 88 points in May to 92 in June, thanks to the im­prove­ment in fore­casts on out­put for the next few months, as well as to es­ti­mates re­gard­ing or­ders and de­mand. The line be­tween pes­simism and op­ti­mism stands at 100 points.

Man­u­fac­tur­ing did turn op­ti­mistic last month as the Pur­chas­ing Man­agers In­dex (PMI) com­piled by Markit reg­is­tered a 50.5-point read­ing, clear­ing the 50-point bar­rier that sep­a­rates con­trac­tion from growth in the sec­tor.

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