Econ sentiment in Greece drops to 12-month low in April, stricken by energy crisis, fallout from war

Economic sentiment in Greece is apparently taking a major “hit” from the global energy crisis and repercussions from the war in Ukraine, with the result in April 2022 marking a 12-month low.

According to the latest monthly bulletin by the Athens-based Foundation for Economic & Industrial Research (IOBE), the economic sentiment index reached 105.0 last month, significantly down from 112.1 points in March 2022.

Economic sentiment by businesses also tumbled, most pronounced in the services, construction and industrial sectors, and less so in the retail sector.

In terms of services, transportation was the most affected, given the rising costs of fuel.