The Foundation for Economic and Industrial Research (IOVE) has documented a marginal improvement of the financial climate in Greece. According to IOVE, the Economic Sentiment Index was found to be 92.6 in January 2014, when it was found to be 91.4 in December 2013.
IOVE’s study showed that business expectations in retail, services and constructions improved during January, while consumer trust balanced out the increase during the holiday season. The expectation of greater financial developments in the past 6 to 7 months has resulted in minor fluctuations in the index.
IOVE analysts stress that people and businesses alike have adapted their expectations and while pessimism has lessened, the overall index has not changed dramatically, with the prospect of the elections in May dampening expectations.
