Greece's economic sentiment dives in July: IOBE think tank

[ATHENS] Greece's economic sentiment hit its lowest level in almost three years in July, hurt by banking restrictions and political uncertainty in the country, a monthly report by the IOBE think tank showed on Monday.

The index, which measures expectations in industry, services, retail, and construction along with consumer confidence, fell to 81.3 points last month from 90.7 in June, its lowest level since Oct 2012, according to the report.

The report said that this was the result of unfavourable economic developments following a July 5 referendum Greece held on a cash-for-reform deal, the capital controls the country imposed to avert a collapse of its banks and a wide political uncertainty.

REUTERS