Eco­nomic sen­ti­ment is im­prov­ing

Kathimerini English - - Focus - CHRYSSA LIAGGOU

House­hold­sand cor­po­ra­tions are more op­ti­mistic about the short-term course of the Greek econ­omy ac­cord­ing to an eco­nomic sen­ti­ment sur­vey con­ducted by the Foun­da­tion for Eco­nomic and In­dus­trial Re­search (IOBE) for July.

Last month’s read­ing of the Eco­nomic Sen­ti­ment In­dex rose to the high­est level since Fe­bru­ary 2015 (just after the left­ist-led gov­ern­ment was formed), reach­ing 98.4 points from June’s 94 points. IOBE es­ti­mates that this is an in­di­ca­tion that the econ­omy will pur­sue a pos­i­tive course in the sec­ond quar­ter of the year.

The same sur­vey also recorded a grad­ual drop in pes­simism among cor­po­ra­tions and con­sumers, which IOBE at­tributes to the com­ple­tion of the sec­ond bailout re­view, the dis­burse­ment of most of the bailout tranche and the strength­en­ing of the im­pres­sion that the pro­gram is on course, de­spite the de­lays.

The im­prove­ment in ex­pec­ta­tions and in con­sumer con­fi­dence ap­pears to be linked to the mo­men­tum of in­com­ing tourism and growth in the econ­omy’s ex­port­ing sec­tor.

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