Greek Economic Sentiment Hits 13-Month High in July

Greek economic sentiment registered a significant improvement in July, climbing to 109.1 points from 106.1 in June, according to the latest Economic Outlook Survey by IOBE. This marks its highest level in the past 13 months.

The boost in sentiment was largely driven by rising expectations in the industrial and services sectors. Within the services sector, the increase is mainly attributed to the hospitality industry, particularly hotels and restaurants.

In contrast, the retail sector saw a notable decline in expectations. Consumer confidence also weakened, hitting its lowest point in the past nine months. Consumer forecasts for their household financial situation over the next 12 months worsened, with 59% of households anticipating either a slight or significant deterioration in their finances.

Despite this, the overall business sentiment across various sectors remains markedly improved, ultimately steering the general economic climate in a positive direction, even as household concerns persist.