Economic sentiment hits 2008 high in July, IOBE confirms

Greece's economic sentiment index shot up to 105.3 points in July from 101 the month before, to reach a high unseen since March 2008, the Foundation for Economic and Industrial Research (IOBE) said in its latest monthly Business and Consumer Survey, confirming a report from Eurostat on Wednesday.

Sentiment improved across the board in every sector of business - industry, retail, services and construction - while consumer confidence also climbed to a near-12-year high, IOBE reported on Thursday, pointing to the general elections of July 7 that brought a pro-business government to power as contributing to the upbeat mood.

Optimism was most evident among consumers, IOBE said, as they look forward to an improvement in their personal and household finances, with businesses holding a more guarded view for the time being.

In the sector of industry, forecasts for...