The economic climate improved in May, with the relevant index standing at 111 points, up from 108.8 points in April.

According to the Foundation for Economic & Industrial Research (IOBE) economic sentiment survey, the improvement came from the business sector, while the consumer confidence index declined. At the sectoral level, there is a significant improvement mainly in construction and retail trade and a milder improvement improvement in industry, while in services there is a deterioration, with the exception of the tourism sector, where expectations are very optimistic.

The same survey notes that the data and other indications so far for inbound tourism are particularly positive, a development that is expected to contribute with optimistic prospects not only to the more narrowly focused tourism sectors but also to those associated with them more broadly in the economy. The slight slowdown in economic growth rates and the "tightness" faced by a large part of households for consumer goods and housing expenditure, in a volatile European environment and with open conflicts in Ukraine and the Middle East, have not led to a deterioration in the economic climate, which is generally positive, especially in terms of business expectations. The results of the European elections could potentially affect the economic climate, especially if the overall European level shows a lack of coordination in addressing the accumulating challenges for the European economy and questions about its medium-term prospects intensify.