IOBE: Business expectations in industry fell to 110.8 points in May

The business expectations index in industry fell to 110.8 points in May from 113.1 points a month earlier, but at a higher level compared to a year earlier (109.2 points).
According to the Foundation for Economic and Industrial Research (IOBE), the international turmoil and uncertainties that have now persisted for a long time in the global and European economy do not seem, so far, to have had significant effects. The impact of the recovery fund is also expected to be critical for the economy as a whole, the final stages of which affect the growth of the economy and its qualitative characteristics.
In April, a decline in industrial production of 4.3% was recorded compared to a year earlier in Greece and a marginal increase of 0.6% in the EU27. The trends in the individual sectors of industry were also downward in April. In particular, a decrease was recorded for Manufacturing (-1.1%), Mining-Quarries (-4.0%), and a sharper decrease for Electricity (-19.6%). In sectors of high importance for the Greek economy, an increase was recorded in Basic Metals (11.6%), Food (4.6%) and Pharmaceuticals (1.9%).