Greek economic sentiment index eased to 106.4 points in October from 107.7 in September, reflecting a decline in business expectations in retail commerce, weaker expectations in industry and services and more optimistic expectations in the construction sector, the Foundation for Economic and Industrial Research (IOBE) said on Wednesday.
More specifically, the Foundation said that the economic sentiment index was moving above last year's levels so far in 2023 in contrast to a decline in the relative index in the EU and the Eurozone, reflecting a positive climate traditionally prevailing during election years.
However, optimism is gradually falling because of geopolitical tensions, tighter fiscal room and uncertainty over the inflation rates.
Business expectations in the industrial sector showed a further decline in the negative balance of estimates over new orders and demand, while positive expectations overproduction in the coming months improved slightly.
In the construction sector, negative expectations over production eased, while optimistic estimates over employment improved.
In retail commerce, estimates over current sales fell strongly, and forecasts over short-term trends rose. In the services sector, optimistic assessments over the current condition of enterprises eased along with estimates of demand.
In consumer confidence, pessimistic estimates by Greek households over the country's fiscal condition and assessments of their economic condition rose. In contrast, forecasts over major purchases improved along with saving intentions.
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