Economic climate worsens, consumer confidence imrpoves in June
2012-07-05 12:05:38
Greece’s economic climate deteriorated further but consumer confidence improved in June, according to figures issued by a research institute on Wednesday.
The Foundation for Economic and Industrial Research’s (IOBE) Economic Climate Index fell to 74.1 points from 76 points in May, on account of worsening expectations in industry and services, while those in the retail trade were unchanged and expectations in construction improved.
The overall deterioration is partly attributed to the prolonged pre-election period, while it seems that consumers were encouraged that the new government would follow a more effective policy mix.
Consumer confidence in June rose to a 12-month high of -70.1 points from -75.8 points in May but Greeks still were the most pessimistic Europeans, followed by Cypriots, Portuguese, Hungarians, Bulgarians and Italians.