Marginal improvement of Economic Climate Index
in the third quarter of 2016
• A marginal improvement in the economic climate index among CEOs was recorded in the third quarter of 2016, reflecting the modest expectations of CEOs because of the backlog in the completion of the second evaluation of the reform program.
• Seven out of ten CEOs agree that the utilization of public property will be moderately effective by the Greek Holding and Property Company (Privatization Superfund). While almost six out of ten CEOs believe that the reasons that the capital controls remain in effect are in part extinct.
The general economic climate indicator (ACEO / ICAP-CEO General Index) was formed at 125 units in Q3 2016, as recorded by quarterly research conducted on a sample of 3,020 CEOs/General Managers of the largest Greek enterprises by the Association of Chief Executive Officers (ACEO) in collaboration with ICAP Group. The research was conducted from 27/09/2016 until 10/10/2016.
The general economic climate indicator (ACEO / ICAP-CEO General Index) in the third quarter of 2016 noted a marginal rise and stood at 125 units. The small rise in the index reflects the modest expectations of CEOs due to the backlog in the completion of the second evaluation of the program agreed with the lenders, which directly affects the progress of reforms. At the same time, the CEOs believe that the use of public property will be moderately effective by the new management structure, the privatization superfund. Analysis of the results by size class shows an index stagnation in small, medium and very large companies, while in large companies the index rose. The current economic status index (ACEO-Current CEO Status Index) increased marginally and stood at 115 units compared with 114 in the previous quarter. The expectations index (ACEO-CEO Expectation Index) rose slightly to 134 units compared to 132 units in the previous quarter.
Statement By The Chairman of the ACEO BOD & ICAP Group Managing Director Nikita Konstantellos
"The economic climate indicator increased slightly in the third quarter of 2016 and stood at 125 units compared to 123 in the previous quarter. The evolution of the indicator reflects the stagnation and delays in the implementation of policy reform measures that will improve the business climate in Greece and abroad and lead to a faster economic recovery. Meanwhile, seven out of ten CEOs believe that the new body, the privatization superfund, will be moderately effective in the management and use of public property. On the important issue of the continuance of capital controls, it is noteworthy that almost six out of ten CEOs mostly believe that the reasons to do so no longer exist. "
The Press Release and the full study is only available in Greek.