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Economy

Survey: Greek CEOs More Optimistic Over Economic Developments

February 1, 2021

ATHENS — The Greek economic sentiment index ACEO/ICAP-CEO General Index rose to 142 points in the fourth quarter of 2020, reflecting expectations of economic recovery based on an expected partial lifting of a lockdown and the resumption of retail commerce combined with the beginning of vaccinations, the Association of Chief Executive Officers (ACEO) said in a report on Monday.

The report, based on a sample of 2,540 CEOs of the biggest Greek enterprises in the period December 27, 2020 – January 10, 2021, showed that the ACEO-CEO Current status index rose to 106 points while the ACEO-CEO Expectation index rose faster to 179 points.

The current economic situation index rose to 111 points in the fourth quarter from 109 in the previous quarter, with the percentage of CEOs saying that the country's economic situation improved compared with one year ago rose to 5.0 pct from 3.0 pct in the previous quarter. Eighty-five pct of CEOs said the country's economic situation remained unchanged, while the percentage of CEOs expecting the situation to improve in 2021 rose to 69 pct from 41 pct in the previous quarter. The current economic situation of enterprises rose to 131 points from 115 in the third quarter, with more CEOs expecting an improvement in their businesses this year.

The current spending on fixed-capital investments index rose to 109 points from 98 in the third quarter, while the current employment index edged up to 94 points from 91 points, respectively.

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