Greek Economic Sentiment Hits 13-Month High in July

Greece’s economic sentiment index registered a significant improvement in July, climbing to 109.1 points from 106.1 in June — marking its highest level in the past 13 months.

According to the latest Economic Outlook Survey by the Foundation for Economic and Industrial Research (IOBE), the boost in sentiment was largely driven by rising expectations in the industrial and services sectors. Meanwhile, other sectors either showed signs of stabilization or experienced a downturn.

In more detail, industrial confidence benefited from stronger current demand, while in construction, there was a slight downward adjustment in expectations regarding the project pipeline, although overall sentiment remained positive.

The services sector continued to display robust momentum, primarily thanks to the hospitality industry — particularly hotels and restaurants — which reported strong current and short-term demand.

In contrast, the retail sector saw a notable decline in expectations across all its subcategories. Consumer confidence also weakened, hitting its lowest point in the past nine months.

Consumer forecasts for their household financial situation over the next 12 months worsened, with 59% of households anticipating either a slight or significant deterioration in their finances.

Despite this, the overall business sentiment across various sectors remains markedly improved, ultimately steering the general economic climate in a positive direction — even as household concerns persist.