Economic sentiment worsens

Greek economic sentiment worsened in June as the country held a second national election in six weeks with the country’s place in the euro region under threat.

An index measuring short-term economic trends fell to a seven-month low of 74.1 from 76 in May, the Athens-based Foundation for Economic and Industrial Research (IOBE), said in an e-mailed report Wednesday. Consumer confidence improved to minus 70.4 from minus 75.8, the foundation said.

“It is clear that the uncertainties during the pre- election period were great, particularly in the business world, while economic activity was reduced to the minimum possible transactions,” IOBE said in a statement.

“For consumers, on the other hand, it seems expectations were created of a change in the mix of policies to be implemented. [Bloomberg] – Ekathimerini.com