Athens Macedonian News Agency: News in English, 16-10-03

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Greek economic sentiment index up in September

[02] Military exercise Parmenion 2016 starts on Monday

[03] Clothing production down, textiles up in Jan-July

[01] Greek economic sentiment index up in September

IOBE said the economic sentiment index records a gradual recovery of expectations after plunging in the summer of 2015 and reflects a return to normality in the economy and the implementation of an economic adjustment program. At the same time, the fact that economic sentiment has not returned to 2014 levels reflects, partly, additional pressure -tax and other- facing both Greek households and enterprises. The Foundation noted that on a short-term view an environment of greater stability seemed to be created, related with uncertainty prevailing early in the year, while consumers seemed to have discounted -up to a point- additional burdens related with tax and pension reforms.

More analytically, business expectations in the industrial sector showed an improvement over production estimates, while estimates over inventories remained unchanged and negative estimates over orders and demand eased slightly. In the service sector, negative estimates over current situation eased along with estimates over current demand. In the retail commerce, estimates over current sales recovered along with estimates over short-term developments and the inventories index rising. In the construction sector, negative estimates over current works eased but without a similar improvement in employment estimates.

The consumer confidence index improved as households were less pessimistic over their finances and the country's public finances for the next 12 months. Estimates over saving intentions improved although estimates over unemployment deteriorated further.

[02] Military exercise Parmenion 2016 starts on Monday

All Greek military forces as well agencies from the public sector will participate in the exercise which is planned and directed by the General Staff.

The aim of the exercise is the practice and evaluation of the armed forces in planning and conducting operations as well as to maintain and upgrade the combat capacity along with the strengthening of cooperation and coordination among the different sectors of the armed forces and the state sector agencies during the implementation of the national plans.

[03] Clothing production down, textiles up in Jan-July

The Hellenic Fashion Industry Association (SEPEE), in a report, said that clothing production fell 12.7 pct in the first seven months of the year, turnover eased 1.7 pct, exports fell 6.5 pct, while retail sales rose 0.6 pct and imports grew 7.6 pct. Export of clothing totaled 319 million euros in value, down from 340 million euros in the same period last year.

The Thessaloniki-based federation said textile production grew 5.2 pct in the seven-month period, turnover was up 7.7 pct, exports grew 15.4 pct and imports rose 13.2 pct. Exports of textile products totaled 295 million euros in value up from 260 million euros in the corresponding period last year.

In total, the value of Greek exports of clothing/textiles (including primary production of cotton) totaled 693 million euros in the January-July period, down 0.8 pct from the same period in 2015.

SEPEE attributed this development to a general economic condition prevailing in the country and the imposition of additional tax burdens.

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