Greek CEOs more optimistic in Q3, survey shows

Greek CEOs were more optimistic in the third quarter of 2020 after two quarters of deep pessimism with the ICAP-CEO General index rising to 129 points, the Association of Chief Executive Officers (ACEO) said in a report on Thursday.

The survey was conducted in the period October 1-15 in a sample of 2,540 CEOs/managing directors of the largest Greek enterprises. The rise of the index is attributed to an improvement of expectations over the recovery of economic activity and a return to normality in the labor market. An analysis of the survey showed that small, medium and very large enterprises were more optimistic while large enterprises were more reluctant.

The current status index eased to 109 points in the third quarter from 116 in the previous quarter, while the expectation index rose slightly to 115 from 113 over the same period, respectively. The current spending on fixed capital investments rose to 98 points from 85 in the second quarter, while the current employment index edged up to 91 points from 88 points. One in five CEOs believe that the Greek economy will grow rapidly in 2021, while a majority of 62 pct expect economic growth rate to be low. A 17 pct of CEOs believe that economic recession will continue in 2021.