Business expectations from industry, as it turns out that the negative impact of inflationary pressure on demand has significantly decreased. It is no coincidence that the index of business expectations in the industry, which measures Institute for Economic and Industrial Studies (IOBE), hit an 11-month high in February, while S&P Global’s manufacturing PMI topped 50 for the first time since last June. Overall, the business climate index strengthened significantly in February, but consumer confidence declined.

In particular, according to the IOBE report yesterday, the business climate index in February was at the level of 107.5 points against 105.9 points in January. “The upward trend is in line with historical data in most pre-election periods, when, in general, there is an improvement in expectations about the course of the economy and the future position of households and enterprises. At the same time, initial fears of a general recession in Europe during the winter have not been confirmed, while there are early signs of the upcoming tourist season that are more positive than expected,” IOBE notes, interpreting the improvement in the situation. business climate.

The Industrial Business Expectations Index stood at 111.5 from 107.4 in January, the highest in 11 months. The PMI also stood at 51.7 from 49.2 in January, with new orders rising at the fastest pace in a year. The fact that the prices of materials and other inputs have risen at the slowest pace in the past two and a half years has played a decisive role.

The Business Expectations Index also recorded growth in the remaining three sectors:

The Business Expectations Index hit an 11-month high in February.

– In construction, it increased to 158.2 units from 104.8 in January, with this jumpy increase mainly due to positive expectations for private construction as well as public works.

– In retail, it improved significantly in February to 113.3 points from 106.9 in January. This strength is the result of improved expectations in most sectors, with the exception of the food, beverages and tobacco sector, where the index is sharply declining.

– In the service sector, it strengthened slightly, to 94.5 points, from 93 in January.

On the other hand, the consumer confidence index, after a temporary improvement in January, fell significantly in February and reached -47.4 points (from -41.4 points in January).