The Greek economy appears to be entering a phase of stabilization as the Economic Sentiment Index and the Consumer Confidence Index compiled by the Foundation for Economic and Industrial research (IOBE) showed a new six-year and four-year high, respectively, last month.

The Economic Sentiment Index reached 99.1 points in May, compared with 95.4 points in April, showing the best reading since 2008. According to IOBE, this highlights that expectations for the economy’s stabilization are being consolidated and comes in stark contrast with 2012, when the average reading stood at 80.3 points, while in 2013 it was 90.8 points.

More information IOBE: The Greek Economy Quarterly Bulletin (16.04.2014)