Greek CEOs were more optimistic over the country’s financial situation and their company’s prospects in the fourth quarter of 2016, with the ACEO/ICAP-CEO General Index rising to 130 points in the October-December period.
This development reflects a positive view of CEOs over the current financial situation as the economy stabilized in the second half of 2016 despite friction in talks with the country’s creditors over reforms agreed in the framework of a second bailout programe. All categories showed an increase in the fourth quarter. The ACEO-CEO current status index grew to 124 points from 115 in the previous quarter, the ACEO-CEO expectation index grew to 136 points from 134 in the previous quarter.
The current financial situation index grew to 147 points in the fourth quarter from 138 points in the previous quarter, while the percentage of CEOs saying that the current financial situation of the country had improved was unchanged and those saying the situation deteriorated fell to 54 pct from 64 pct. The percentage of CEOs saying the country’s economic situation will improve next year grew to 15 pct from 13 pct in the previous quarter.
The percentage of CEOs expecting the situation in their sector to improve grew to 13 pct from 9.0 pct and the percentage of CEOs saying the financial situation of their companies was better compared with one year ago grew to 44 pct (57 pct for CEOs in very large enterprises).
ACEO, in co-operation with ICAP Group, has created the CEO Index, a new index which surveys the opinions and expectations of business executives from all sectors of the Greek economy. The survey is conducted on a quarterly basis, and the results are published every January, April, July and October.
The survey aims at recording the opinions and short-term expectations of CEOs regarding the overall financial situation, their own company and their company’s operation sector.