Economic sentiment index slightly down in Nov

Greece’s economic sentiment index fell slightly in November to 67 points, down from 67.3 points in October, the Institute for Economic and Industrial Research (IOBE) announced on Friday.

The report showed that the services sector recorded the biggest decline, while conditions in the manufacturing sector worsened further.

In the retail sector the decline was milder, while in the construction sector sentiment remained around October levels. Demand showed some improvement in November, after falling to record-lows in October with consumers remaining cautious over developments in the current crisis.

Business expectations in the manufacturing sector were slightly lower, while expectations over demand and new orders recorded the biggest decline and inventories fell further.

In the services sector, business expectations recorded a steep decline over the current level of business and short-term demand, while the decline was even bigger in expectations over the current trend of demand.

In the retail sector, expectations recovered helped by improved forecasts over current sales and a strong decline in inventories.

In the construction sector, business expectations improved over the level of works, although expectations over employment in the sector worsened further.

Consumer confidence recovered in November, after hitting a record low in the previous month, with households’ expectations over their finances, intention to save in the next 12 months, forecasts over unemployment and expectations over the country’s financial condition, improving.