According to the latest figures published by Eurostat the Economic Sentiment Indicator (ESI), which was already on an upward trajectory, increased even more in Greece in August.
Previously scoring 101 points in June and 105.2 in July on the economic confidence scale, the nation of Greece recorded 108.4 ESI points in August.
The ESI, a representation of the overall economic climate in a country, and an important measurement of the economic climate, is comprised of five different sectoral indicators.
These aspects include industrial confidence, services confidence, consumer confidence, construction confidence and retail trade confidence indicators.
Greece’s retail trade confidence rose from 13.7 in July to 22.6 in August, while other sectors, such as services and consumer indicators, rose as well.
According to Eurostat, the ”ESI is calculated as an index with a mean value of 100 and standard deviation of 10 over a fixed standardized sample period.”
The results are announced on a monthly basis, after the survey is conducted within the EU and other countries across the continent.