ECONOMIC SENTIMENT

According to the monthly survey of the Hellenic Foundation for Economic & Industrial Research (IOBE), economic sentiment improved in May 2018, as the relevant index rose to 104.2 units compared to 103.6 a month ago (+0.6% m-o-m), hitting a 4-year high, on the back of better prospects in services and construction. On the flip side, consumer confidence showed some deterioration (the relevant index stood at -51.0 units in May vs. -48.8 a month ago) on the back of the imminent pensions cuts and additional tax obligations that will affect disposable income in the next 12 months.

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