Significant improvement was the business expectations in IT and software development in September. The relevant index stood at 123.5 points in September (from 105.1 points one month earlier), at higher levels than last year (when they move at 112.2 points).

The Software Informatics and Development Business Excess Index was set in September at 123.5 points

According to the IOBE financial situation report for September, estimates of the current business status were significantly reinforced to +52 units from +29 points, while upward – but milder – estimates for current demand and are for +43 units in September (from +33 units).

Forecasts for the short -term demand of demand are significantly improved to +52 points (from +19 units the relevant balance one month earlier), while positive employment forecasts (+24 units from +33 points) are moving. On the other hand, prices were set at mild inflationary levels, at +24 points from +19 points last month.

The picture in Greece

Overall, in the Greek market in September there was a slight deterioration of the economic climate, but a improvement in consumer confidence. The economic climate index fell in September and stood at 106.2, from 108.9 points in July.

This retreat comes from the weakening of expectations in the business sectors and several individual sectors, with the exception of retail, where optimism seems to be returning after the summer months. The downward trend of consumer confidence is being interrupted, with the very pessimistic consumer forecasts for the financial situation of their household to be limited.

In industry, forecasts for exports have deteriorated, an indication of the uncertainties in international trade. In construction, correction of the index is expected mainly in private projects, as the index generally moves to very high levels for several months, while in the services the index recedes to the lowest point of the last 12 months.

“Government announcements at the TIF, especially for income tax cuts, probably positively influenced the households, as pessimism has been mitigated in some variables, but estimates by much of the households still remain relatively negative,” He mentions the IOBE.

The course in the EU

The economic climate index in September was supported both in the EU and the Eurozone. This development was, in particular, the improvement of expectations in industry, services and consumer confidence, with retailing weakening and expectations of constructions remaining virtually unchanged.

Specifically, in the industry, the index was reinforced in September (+0.3), due to optimistic production forecasts in the coming months, which were partially offset by pessimistic demands of demands, with stocks being kept at the level of the previous month.

In the services, expectations have improved mild (+0.4) as a result of the significant improvement in forecasts of future demand and the milder reinforcement of current demand estimates, with current situation estimates being strongly weakened.

Retail has fallen by one unit due to pessimistic estimates of the current situation and stocks, with forecasts of the future situation, on the other hand, to improve. In constructions, the corresponding index remained almost unchanged (+0.1), with expectations for employment to weaken, while estimates of the order level are slightly improved.

Finally, in terms of consumer confidence, it improved mildly (+0.5), reflecting the least pessimistic estimates of the future state of households, as well as consumers’ intention for major markets, with estimates of their current household status, but also forecasts.

Regarding trends in the six largest economies, the index fell to the Netherlands (-0.7) and milder to Germany (-0.4), and improved in Spain (+3.0) and Italy (+0.7). On the other hand, it remained virtually unchanged in France (+0.3) and Poland (+0.1).