The Business Expectations Index in Services improved in September, reaching 116.4 points, from 114.2 points in July, in the IOBE “Economic Climate Survey”.
Among the individual variables of the index, positive assessments of the current situation of businesses strengthened slightly, as did positive assessments of current demand, while, on the contrary, forecasts for its short-term development moved mildly downward.
More specifically, the index of assessments for the current situation of businesses strengthened slightly compared with July, to +41 points, with the index of assessments for current demand standing at +37 points from +30 points in the previous period.
Forecasts for demand in the next quarter also moved downward to +30 (from +37) points, with forecasts for employment moving to mildly higher levels compared with July, at +15 (from +12) points. In prices, the relevant balance stood at seasonally normal levels, at +2 points.
In response to the question regarding the degree of uncertainty in the economic environment, 34% believe that future growth can be predicted with difficulty or relative difficulty, mildly higher than 31% in the previous period.
At the level of the main sectors, trends are mixed. More specifically:
The business expectations index in Hotels – Restaurants – Travel Agencies moved sharply downward and stood at 136.8 (from 162.6) points. The strongly positive assessments of the course of the current situation of businesses weakened slightly to +67 points (from +76 points), while the positive assessments of current demand moved similarly (+68 from +80 points), with forecasts for the short-term development of demand moving steeply downward to -11 points from +48 points in the previous period.
Forecasts for employment weakened sharply and stood at -39 (from -6) points, while the price index stood at mildly deflationary levels (-28 points).
The expectations index for Financial Intermediaries (excluding Banks) moved downward, to 154.2 (from 160.7) points, at a mildly lower level compared with that of the previous year (160.3 points). Assessments for the current situation of businesses stood at +73 points from +78 points in the previous period, while those for current demand moved similarly and stood at +69 (from +78) points.
Forecasts for the short-term course of demand moved mildly downward, standing at +23 points, from +30 points in July, with forecasts for employment strengthening mildly to +31 points, from +22 points in the previous period. In price expectations, the relevant index stood at mildly inflationary levels at +15 points, from +56 points in July.
The business expectations index in Various Business Activities moved mildly upward, to 123.1 (from 117.7 points), at a markedly higher level compared with the corresponding level last year (104.3 points). In the main indicators, the balance of assessments for the current situation of businesses moved downward compared with the previous month (+30 from +34 points), with positive assessments of demand standing mildly higher at +30 points from +26 points in July.
At the same time, positive forecasts for the development of demand strengthened significantly and stood at +74 (from +55) points, with forecasts for employment rising significantly to +49 (from +39) points. On the other hand, the inflationary trend strengthened to +23 points from +3 points in the previous period.
The business expectations index in Information Technology and Software Development shows marginal improvement and stands at 112.2 (from 111.5) points, at a markedly lower level, however, compared with last year (123.5 points). Assessments for the current situation of businesses strengthened marginally to +40 points, while, on the contrary, assessments for current demand moved downward and stood at +27 (from +29) points.
Forecasts for the short-term course of demand moved mildly upward to +40 points (from +38 points in the relevant balance), while forecasts for employment changed strongly positively to +40 points. On the other hand, prices remained at mildly inflationary levels, at +27 points from +21 points in the previous period.
Business expectations in Land Transport moved downward, with the relevant index standing at 76.7 (from 94.5) points. Positive assessments of the current situation stood at +8 points, while assessments for current demand moved mildly downward (+6 from +15 points in the relevant balance).
Positive forecasts for the short-term course of demand fell steeply and stood at -42 points from +16 points in the previous period, with optimistic forecasts for employment in the sector weakening accordingly and standing at -47 from +23 points in July. The balance of prices stood at relatively mildly inflationary levels, at +4 points.