The ICAP-CRIF economic sentiment index fell in the second quarter

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The ICAP CRIF-CEO General Index fell to 136 points in the second quarter of 2022, from 140 points in the first quarter of 2022, as recorded by the quarterly survey of 2,540 CEOs directors of the largest Greek companies from the Society of Chief Executives of Companies (EACE) in collaboration with ICAP CRIF.

The research was carried out in the period 22/6/2022 – 10/7/2022.

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According to the research, the new decline of the index is due to the continuation of the negative conditions prevailing in the international supply chain and the energy market as well as the uncertainty among CEOs about the outcome of the problems in international economic relations.

The analysis of the results by size category shows a slight drop in the index in the small, medium and very large, while a small increase was noted in the large.

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The current economic status index (EASE-CEO Current status Index) showed a marginal decline to 135 points, while the expectations index (EASE-CEO Expectation Index) decreased to 138 points.

The country’s current economic situation index showed a marginal rise to 161 points. The percentage of CEOs who say the country’s current economic situation has improved compared to 1 year ago increased to 26% compared to 20% in the previous quarter.

At the same time, the percentage of CEOs stating that the country’s current economic situation has worsened increased to 56% compared to 52% in the previous quarter. The forecast index of the country’s economic situation a year later showed a drop to 134 points compared to 156 points in the previous quarter.

The percentage of CEOs who estimate that the country’s economic situation will be better in the next year stood at 15%, compared to 28% in the previous quarter.

The index of the current economic situation of the sector in which businesses operate fell marginally to 155 points from 156 in the previous quarter.

The percentage of CEOs who say the current state of their industry is better than 1 year ago increased to 29% from 25% in the previous quarter, rising to 39% for service CEOs.

The index of expectations for the economic condition of the activity sector showed a drop to 146 points from 157 in the previous quarter.

The percentage of CEOs who believe that in a year the industries they operate in will be in a better financial state compared to the current one decreased to 25% compared to 30% in the previous quarter, while this percentage was 33% for CEOs of companies that provide services.

The current financial condition of companies index fell to 111 points from 117 points in the previous quarter. The percentage of CEOs who say their companies’ current financial condition has improved compared to a year ago fell to 45% from 47% in the previous quarter, compared to 61% for service CEOs.

The index of CEOs’ expectations for their company’s financial situation next year fell marginally to 123 points from 124 points in the previous quarter. The percentage of CEOs who expect improvement in the coming year rose to 37%, a percentage that increased to 52% for CEOs of very large companies.

The current expenditure index for fixed capital investment noted a slight increase to 124 points compared to 120 in the previous quarter.

The percentage of CEOs who say the current investment spending of the businesses they manage is higher than last year rose to 27%, up from 25% in the previous quarter, while for CEOs of service businesses it rises to 38%.

The index of investment expectations rose slightly to 139 points from 137 points in the previous quarter. The percentage of CEOs who say their business investment spending will be higher over the next year rose to 31% from 28% in the previous quarter, a share that rises to 48% for CEOs of very large companies.

The current employment index declined to 122 points from 125 in the previous quarter. The percentage of CEOs who state that the number of employees in the companies they manage is greater compared to a year ago stood at 49%, which increased to 58% for CEOs of very large companies.

The employment expectations index showed a very small increase to 146 points compared to 144 in the previous quarter. The share of CEOs who state that employment in the companies they manage will increase 1 year from now was 40% compared to 35% in the previous quarter. The very large companies are significantly differentiated from the rest since the CEOs who manage them stated in a much higher percentage 52% that the employment of their companies will be increased 1 year later.

Apart from the basic questions that are submitted every quarter to the CEOs, their opinion was also asked about the effect on the Greek economy of the announcement of a possible exit from the regime of increased supervision.

27% of CEOs said there would be a high positive impact, 45% a neutral impact, while 28% said the positive impact would be small. The CEOs were also asked to predict when energy prices will normalize in Greece.

Just 2% of the total answered that this will happen within 2022 and 41% said the year 2023, while 57% of CEOs believe that energy prices will normalize in 2024 and later.

38% of CEOs consider that business support measures during the pandemic period were sufficient to a high degree and 53% that they were sufficient to a moderate degree. In contrast, only 9% of CEOs stated that the measures were insufficient.

Source: RES-MPE

Source: Capital

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