Economic climate eased in Greece in June, according to the Athens-based Foundation for Economic & Industrial Research's (IOBE) monthly report, although a small improvement was recorded in the same index for the industrial sector.
Economic climate eased in Greece in June, according to the Athens-based Foundation for Economic & Industrial Research's (IOBE) monthly report, although a small improvement was recorded in the same index for the industrial sector.
Conversely, the overall index fell last month after confidence sipped in the retail, construction and consumer confidence sectors.
One interpretation is that the development is linked with the fact that citizens and SMEs during the specific month, June, calculate their annual tax obligations, which often negatively affects their expectations.
Moreover, most of the study was undertaken before a crucial Eurogroup meeting on June 21, where European creditors extended medium-term debt relief measures to Greece and delineated the framework of the country's post-bailout supervision.