Greece’s economic climate index fell to 106.8 points in July from 110.5 points in June, the lowest performance in the last five months, according to the Foundation for Economic and Industrial Research (ΙΟΒΕ).
The decline was attributed to the performance of three business sectors: industry, construction and services.
The consumer confidence index also dropped in the same period.
“Although the summer period positively affects various sectors, it seems that expectations ‘correct’ the upward trend of the last months, as more optimistic developments have possibly been discounted. The concern seems to be based on the external environment as well as the domestic situation. Internationally, major uncertainties and heightened geopolitical tensions seem to be putting pressure,”IOBE stated.
High prices a major problems for households – 56% expect a new price rise
The issue of high prices continues to worry households since 56% of them expect a new rise in prices at the same or faster rate and 61% noted that they are struggling to cope with everyday expenses. A significant part of the population also needs to draw money from their savings.
In any case, as IOBE pointed out, “July’s correction is significant, but it remains to be seen whether it will turn into a trend in the coming months.”
