Greek economic sentiment index slightly down in October

Greek economic sentiment index eased slightly to 106.7 points in October from 107.2 in September, as -with the exception of manufacturing and construction - all other business sectors and consumer confidence showed signs of a slight correction after a strong rise in the previous months, the Foundation of Economic and Industrial Research (IOBE) said in a report on Monday.

IOBE, in its monthly report, said that a slight moderation of a pre- and post-election euphoria was anticipated and noted that the economic sentiment index remained at very high levels in a period when the index had been falling for several months in Europe. It stressed that the implementation of the government's policy and the priorities of economic policy will determine, largely, whether economic sentiment will improve further, or not.

More specifically, business expectations in the industrial sector showed a slight decline in the negative balance of estimates for new orders and demand, along with estimates over inventories, while estimates over production in the coming months eased slightly. In the construction sector, negative estimates over work programme eased along with negative estimates over employment. In retail commerce, positive estimates over current sales fell markedly, while inventories rose. In the services sector, positive estimates over the current condition of enterprises eased along with estimates over current and short-term demand. Greek households' estimates over the country's finances and their own finances eased, estimates over savings improved but estimates over unemployment rose in October.