ATHENS, Feb. 4 (Xinhua) -- Greece's economic sentiment index declined in January to 99.6 points from 101.6 points in the previous month amidst uncertainty as the country holds general elections later this year, an Athens-based think tank announced on Monday.
According to the Foundation for Economic and Industrial Research (IOBE) business and consumer survey, the declining trend which continued from November 2018 is attributed to a large extend to worsening expectations in services confidence, Greek national news agency AMNA reported.
The drop in this category undermines the expectations in industry, construction, retail commerce and consumer confidence which are improving, experts said.
The economic climate this period is largely influenced by factors such as the country's search for a direction following the exit from the bailout programs last year, developments internationally and the pre-election declarations, they explained.
In addition to elections for the European parliament and local government elections scheduled for May, Greece holds also general elections by autumn.
Pre-election pledges like reductions of taxes and increased handouts boost consumer confidence and help the retail sector, but for businesses the image is mixed, researchers noted.
The trend is positive for sectors of the economy and businesses which are more extrovert and have clientele mainly abroad.
