IOVE shows that the “Greek economy is finally stabilizing”

The Foundation for Economic and Industrial Research (IOVE) revealed that the financial climate index is at its highest levels of the past five and a half years. IOVE’s business survey shows that the economy is beginning to stabilize, with the financial climate index scoring 94.8 in February from 92.6 in January.

While business expectations improved in February, primarily in the Industrial, Retail and Services sectors, consumer trust dropped for a second consecutive month. Consumers are primarily concerned about the financial situation in Greece and the escalating rate of unemployment.

According to the IOVE survey though, the financial climate will continue to improve in 2014, which confirms the long-term financial estimations of the recession slowing down.