Expectations in industry nosedived last month

Business expectations in industry deteriorated last month, with the index compiled by the Foundation for Economic and Industrial Research (IOBE) for Hellenic Production - Council of Industries for Growth showing a significantly lower reading than in February.

IOBE attributes this development to the significant weakening of business sentiment across all economic sectors and says it reflects a correction in the possibly excessively optimistic expectations noted in previous months.

The Foundation added that the next couple of months will indicate whether this development is a one-off or the start of a trend.