IOBE: Expectations in industry dropped in October

At 103.5 units, the business expectations ratio declined in October compared to the previous month at 110.6 points, at a higher level than last year (96.5 points), according to his report. At the same time, there is a rise, and a more positive sign of the forecast balance for prices, while according to IOBE, geopolitical turbulence seems to affect the outgoing part of the domestic industry and cause uncertainties, despite the generally positive course of exports of products. The negative balance for orders and current demand with a mild increase in the balance for stocks is more pronounced. There is also a decline in the index for consumer goods, mainly due to estimates of orders and growth for capital goods due to the forthcoming production. On the other hand, according to the IOBE report, the projects of the Recovery Fund continue to affect the economy multiplyly, while inflation persists at relatively high levels, but developments in the international environment also affect domestic expectations. The rate of factory use was reduced to 78% in October (from 78.8% in July), with the guaranteed production reaching 6 months from 5.1 months in July. The report shows an increase in industrial production 2.4% in September compared to a year ago in Greece, compared with a 2.4% reduction in the EU27. There are also mixed trends in industry sectors in September. In particular, rise for Processing (5.2%) and Mines-Latomies (9.5%), but retreat to Electric Current (-8.9%). In sectors of high importance for the Greek economy, there was a rise in basic metals (14.1%) and food (8.5%), but a decline in pharmaceutical products (-10.8%). Source: RES – ICM