Greece's economic climate improved in March, with the relevant index closing at 107.7 from 106.9 points in the previous month.

According to an economic climate survey by the Foundation for Economic and Industrial Research (IOBE), this small uptick of the index comes from construction and industry, as services, retail trade, and consumer confidence all weakened slightly. Optimistic forecasts for production in industry and less pessimistic forecasts for private construction positively affected the index. However, consumers' negative assessments of the financial situation of their households and the country's economy seem to be strengthening relatively, with a corresponding adverse effect on retail trade and services.

As highlighted in the survey, the macroeconomic and fiscal state of the economy remains stable, with the reduction in unemployment generating income for more households. The same applies to inflation, which remains above 2%. The increasing external uncertainties, amid a wave of protectionism in international trade, are also expected to affect the extroverted parts of Greece's economy, although the exact consequences cannot yet be assessed in the current volatile situation.

Moreover, counterbalancing these trends, the strengthening of European business alliances in important sectors may also create new opportunities for Greek businesses.