Business expectations in the Greek manufacturing sector declined due to deteriorating forecasts for orders, demand and production in the coming months.

International uncertainties seem to be of particular concern to the manufacturing sector, the most outward-looking sector of the economy, as protectionist policies may be reinforced in the coming period. 

Specifically, according to the IOBE's Industrial Developments bulletin, the relevant expectations index fell to 101.6 points in December 2024, from 105.9 points in the previous month, higher than a year ago (94.1 points). 

In terms of industrial production, a slight increase was recorded last November compared to October. On an annual basis, the increase was of 4.8% in Greece compared to a decrease of 1.7% in the EU. Domestic manufacturing showed a mild increase of 0.5% year-on-year.

Exports in manufacturing increased by 2.1% in October 2024 on an annual basis. The trade deficit narrowed to EUR 3.6 billion from EUR 3.8 billion a year earlier.

Employment in industry increased in the third quarter of 2024, namely by 0.3% year-on-year compared to a 1.6% rise in the economy as a whole.

According to the IOBE, the economic climate in December 2024 remained almost unchanged, due to a deterioration in Manufacturing and Retail Trade and an improvement in Construction and Services. Improvement in consumer confidence.

However, the consumer confidence index improved to -44.5 points (from -47.3 points in the previous month), lower than a year ago (-40.3 points). Households' pessimism about their finances appears to have diminished.