Athens News Agency: News in English, 08-02-06

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Economic sentiment index down

[01] Economic sentiment index down

IOBE, in its monthly report, said January's performance was much lower compared with January 2007 (107.6 points) and reflected a strong decline in consumer confidence. On the other hand, business sectors recorded fractional improvements.

IOBE said business expectations in the manufacturing sector improved in production activity for the coming months, although expectations fell over the volume of new orders. In the services sector, business expectations rose slightly over demand in the next three months, while in the retail sector expectations were almost unchanged. Finally, in the construction sector business expectations remained pessimistic.

A decline in the consumer confidence index, which fundamentally affects economic climate in the country, reflected lower expectations over the country's general economic situation, savings, households' finances and unemployment levels in the next 12 months.

IOBE said the consumer confidence index fell to -40 points in January, the lowest level in the last 18 months, from -29 in December.

January's performance was the third lowest in the EU. The Institute noted that the consumer confidence index fell throughout Europe in January.

Caption: ANA-MPA file photo shows an aerial view of the port of Piraeus, south of Athens / G. Christakis.

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