Greece’s economic sentiment indicator edged down in October to 106.9 points, from 107.6 points in September.
According to the Foundation for Economic and Industrial Research (IOBE)’s economic climate survey, the decline reflects a deterioration in expectations in manufacturing, services and retail trade, while construction recorded an improvement. Consumer confidence also weakened, following four consecutive months of gains.
In construction, a slight improvement was recorded, driven exclusively by public works. Retail trade saw a modest deterioration, reflecting more pessimistic assessments of both current and future sales. In services, the indicator edged down amid less optimistic assessments across all its individual components.
In manufacturing, order books and current demand, along with the other components of the sector’s confidence indicator, recorded a downward trend.
On the household front, Greek consumers expressed more pessimistic expectations than in the previous month regarding both their household finances and the country’s overall economic situation. Their willingness to make major purchases also weakened.
“Continuing geopolitical tensions, particularly disruptions in energy markets, together with persistent inflation, are having a significant impact on expectations. Developments in these areas of the economy will shape economic sentiment in the period ahead,” the IOBE survey noted.
