Greece economic climate index declines in October

Greece's economic climate index experienced a slight decline in October, falling to 106.9 points from 107.6 points in September, according to research by IOBE. This downturn is primarily attributed to worsening expectations within the industrial, service, and retail sectors.

In contrast, the construction sector saw a minor improvement, driven exclusively by increased expectations regarding public works projects. However, consumer confidence declined after four consecutive months of growth. Greek households expressed more pessimistic views regarding both the national economy and their personal finances, leading to a reduced intention to make major purchases and a slight downward trend in savings intentions.

IOBE notes that ongoing geopolitical tensions, disruptions in energy markets, and persistent inflation continue to weigh on economic expectations. The organization suggests that developments in these areas will play a decisive role in shaping the economic climate in the coming period.