Greek economic sentiment index up further

Greece's economic sentiment index grew further to 94.8 points in February, from 92.6 in January, to the highest level in the last five-and-a-half-years, the Institute for Economic and Industrial Research (IOBE) said on Tuesday.

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IOBE, in a monthly report, however, said that consumer confidence deteriorated slightly in February, falling for the second consecutive month.

The report said that business expectations improved in all economic sectors, particularly in manufacturing, retail, services and constructions. IOBE said that stabilization conditions were gradually gaining ground in the economy, raising consumers' and enterprises' expectations according to ANA-MPA

More analytically, business expectations in the manufacturing sector gained ground over the short-term development in production and current orders' levels, inventories remained unchanged.

In the services sector, business expectations improved slightly over current activities and short-term demand.

In the retail commerce, pessimistic expectations over current sales showed signs of stabilization, while the inventory index grew further.

In the construction sector, negative forecasts over current works program remained unchanged, while the employment index gained further ground.

Greek households' expectations over their finances, the country's financial situation and unemployment developments in the next 12 months remained almost unchanged, while consumers' intention for savings deteriorated in February.