The economic climate improved in January, with the relevant index standing at 108.6 points from 106.4 points in the previous month. According to an IOBE economic sentiment survey, the rise in the index came mainly from industry and construction, with services and consumer confidence improving more modestly and only retail trade declining after the festive season. On the household side, less pessimism is registered, with the problem of price stickiness, however, still weighing on expectations.

As noted in the same survey, 'Overall, the economy is trending positively, with growth rates showing no signs of slowing down and remaining above the European averages. At the same time, inflation is declining and is expected to be lower this year than in the previous year, while unemployment continues to fall, contributing positively to real household income. 

At the same time, however, the level of incomes and the economy as a whole still remain relatively low and can only recover more quickly after the decline during the deep crisis if further interventions are made to enhance the efficiency of the public sector and markets. Clearly, there are also sources of uncertainty in the external environment, as Europe seeks direction, and the adoption of economic policy measures by the new president in the US that challenge the international trade patterns of recent decades may cause turbulence that will affect our own economy. The combination of trends in the external environment and the choice of policy directions domestically will shape the economic climate in the coming months."