The economic climate index strengthened slightly in June this year and reached 110.1 points from 108.2 points in May.

As noted in the Economic and Industrial Research Foundation (IOBE) economic situation survey, at the business level, this development is the result of the strengthening of expectations in industry and services, as there is a small decline in retail trade, while there is a sharper decline in construction.

The improvement in the climate is fueled more by the very important strengthening of consumer confidence. After all, overall the climate index has been at high levels since the beginning of the year, much higher than last year. In contrast, relative indicators in the EU and the Eurozone fell significantly in May and further deteriorated in June. All of the household survey and a large part of the business survey was conducted before the June 25 election.

At the same time, the research reflects and integrates, now, the result of the “first” elections that preceded it. “The positive response of the result to households is clear, as the improvement of expectations is decisive for the course of the index this month. In addition, in the next period the tourist season peaks, which, as has been established from the past, feeds several branches of the economy with positive dynamics, directly or indirectly, as long as it is certainly moving satisfactorily.

On the other hand, the pre-election period has ended and now households and businesses are waiting for the programmatic declarations as well as the essential moves of the new government in all matters of the economy and not only politics, which will determine the economic and social framework in the country next interval’ is noted in this regard.

In more detail:

– in the industrythe negative balance of orders and demand estimates eased slightly, inventory estimates scaled back and positive forecasts for output in the coming months faded slightly.

– in constructionsthe negative forecasts for production strengthened slightly, while at the same time the positive forecasts for employment weakened significantly.

– in retail tradeestimates for current sales were slightly boosted, with inventory leveling off modestly, while forecasts for near-term sales growth were markedly down.

– in the servicesthe positive estimates for the current state of business strengthened significantly, those for demand improved more mildly, while on the contrary forecasts for the short-term evolution of demand weakened slightly

– in consumer confidence, households’ negative forecasts for the country’s economic situation declined, as did the corresponding ones for their own economic situation. At the same time, forecasts for major markets improved significantly and the intention to save increased slightly.