Economic sentiment index jumps to six-year high

Economic sentiment index jumps to six-year high

Greece’s economic sentiment index jumped to 97.5 points in March, its highest level since the summer of 2008, the Institute for Economic and Industrial Research (IOBE) said on Wednesday.

In a monthly report, IOBE said that business expectations recovered in the manufacturing and construction sectors, fell in the retail commerce sector and were stable in the services sector. Consumer confidence also moved higher, after two months of decline, to its least negative levels in the last four years according to ANA-MPA

IOBE noted there were positive messages over economic trends and other developments, such as completion of negotiations with the troika or a government decision for one-off social benefits this year, and stressed that a continuing slowing down of economic recession created expectations for economic stabilisation in the country, with positive impact on employment.

Business expectations in the manufacturing sector gained significant ground in short-term production development, while expectations over current orders and demand weakened slightly.