Greece’s economic sentiment index rose to 111 points in May from 108.8 points in April, according to the survey of the Economic and Industrial Research Foundation (IOBE), adding that the improvement comes from the business sectors, while the consumer confidence index is declining.
A significant improvement has been recorded in construction and retail trade as well as in industry, while in services there is a deterioration, with the exception of the tourism sector where expectations are very optimistic.
According to IOBE, the messages for incoming tourism are particularly positive, a development that is expected to contribute to the wider economy.
The slight slowdown in the growth rates of the economy and the price spike which has affected a large part of households amid a volatile European environment and open conflicts in Ukraine and the Middle East, have not led to a worsening of the economic climate, which is generally positive especially in terms of business expectations.
As the IOBE emphasized, the results of the European elections could possibly affect the economic climate, if it becomes apparent, at a European level, that it is difficult to deal with the challenges accumulating for the European economy in a coordinated manner and the questions about medium-term prospects intensify.
