Foundation for Economic and Industrial Research

The economic sentiment index in Greece closed with a drop in November, as did the manufacturing purchasing managers' index (PMI), while the slight improvement in the consumer confidence index in no way means that Greeks are not still the most pessimistic people in the European Union or that they stopped worrying about the high market prices.

Nikos Vettas, the general director of the Foundation for Economic and Industrial Research (IOBE) and a professor at the Athens University of Economics and Business, joins Thanos Davelis to look into the state of Greece's economy - from the recent protests over the cost of living crisis and wages, to growth and debt reduction.

The industrial turnover index fell for the second month in a row, due in part to a drop in prices compared to last year and mainly to a weakening of orders, mostly from abroad.

The Conference on Entrepreneurship, Innovation, and Sustainability in the Blue Economy was held with great success, in the framework of the project “Blue Innovators of Piraeus”, an initiative of the Municipality of Piraeus to highlight the innovative action of blue economy businesses.

The global economy has been suffering from uneven growth in recent years, yet it is extremely striking how weak Europe remains relative to the US, China and other Asian economies.

Nearly one in 10 firms in Greece in 2021 were "zombie" companies, according to a recent report by the Foundation for Economic and Industrial Research (IOBE), which revealed that 4,500 of 51,000 firms surveyed were at least 10 years old and had an interest coverage ratio of less than one percentage point for three consecutive years.

Greece's pharmaceutical industry is going from strength to strength, registering a new high in output last year and continuously expanding production, according to a study by the Foundation for Economic and Industrial Research (IOBE).

The short- and long-term car rental sector is estimated to directly contribute 1.3 billion euros to Greece's gross domestic product, based on 2022 data.

Greece's food and drink industry remains the largest domestic manufacturing domain, as it was during the crisis. This is reflected not only in the number of businesses and employees, but also in the gross added value of these industries in Greek manufacturing.

High plot rates, combined with the realization by some house builders that the prices of newly built properties are unlikely to keep rising at the same pace, seem to have put a brake on new housing construction.

Based on the seasonally adjusted data of the Hellenic Statistical Authority (ELSTAT), in this year's first quarter investments in housing decreased by 14% on an annual basis.