Business expectations in industrial sector significantly up in February

Business expectations in the Greek industrial sector improved in February, with the relative index rising to the highest level in a decade, the Foundation for Economic and Industrial Research (IOBE) said on Monday.

This development reflects a general improvement in the country’s economic sentiment index, IOBE said, adding that a smooth completion of a third review of the Greek support programme, a successful new foray into capital markets, improving funding conditions through bond loans for enterprises and repayment of state arrears to the private sector, created conditions of stability in the economy and expectations of recovery, particularly in the business sector.

IOBE said that a stronger international environment, favouring export companies, was another factor boosting the Greek industrial sector. Exports of industrial production grew 9.8 pct in January-November 2017 to 11.1 billion euros from 10.1 billion a year earlier. The business expectations index in the industrial sector jumped to 103.1 points in February, from 98.5 in January and 91.8 points in February last year. It was the highest performance since September 2007, IOBE said.