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Spotlight from Greece
Greece Economic Sentiment Improves in July
Greece's economic sentiment improved in July along with the consumer confidence index, which rose on the month, according to data from the Institute for Economic and Industrial Research (IOBE).
July economic sentiment index rose to 76.1 points, mainly due to more optimistic business expectations in the retail and construction sectors, state-run Athens News Agency quoted information published by IOBE on Thursday.
The positive trend was also influenced by a rise in the consumer confidence index for the fifth consecutive month.
Expectations in the construction sector improved slightly last month, along with more favourable forecast for employment rate in the sector. Consumer confidence index rose in July, reflecting significantly improved expectations regarding households' financial situation and the country's economic development in the following months.
Managers in the manufacturing sector, however, were more pessimistic in July over production developments, although their assessments regarding the current level of orders and the demand in the sector improved slightly. In the services sector, business expectations remained pessimistic, while in the retail sector, they improved, due to more favourable assessment of the current sales volume.