IOBE: Business expectations in the industry are improving

The economic climate recorded a slight increase in October, according to the industry development bulletin edited by IOBE.

At the same time, a weakening of consumer confidence is recorded. More specifically, IOBE records an improvement in business expectations in Industry, at 112.9 points in October from 106.9 points. in September. At the same time, industrial production continued to grow by 0.7% in September compared to August. The increase in Greece by 9.1 percentage points on an annual basis is stronger than the increase in the EU 27 (4.2%).

Significant increase is also recorded in the exports of the industry by 24.6% in August (yoy). At the same time, however, the trade deficit is rising to € 2.6 billion from € 1.8 billion a year ago. According to the findings of the IOBE bulletin, the increase in fares for bulk cargo and the container index continued in October. Moreover, there is a significant increase in electricity costs in September by 7.2% compared to the previous month, as in natural gas.

Regarding the National Plan for Recovery and Sustainability (Greece 2.0) it has 4 pillars: the Green Transition, the Digital Transition, Employment-Skills-Social Cohesion, and the Transformation of the Economy-Private Investments. Total EU grants amount to € 18.4 billion, while total EU loans: € 12.7 billion, which means that the estimated mobilized national and private resources will amount to € 28.8 billion. So far, 48 projects have been included in the Recovery Fund, with a total budget of € 2.76 billion.