Greece: positive signs from economic sentiment (Dec-16), industrial production (Nov-16) and commercial transactions (Nov-16)

The economic sentiment indicator (ESI) increased in December 2016 both in monthly (+2.2 units) and annual terms (+7.0 units), coming in at a 21-month high of 94.6 units. Furthermore, the average (per month) value of the ESI increased in 2016 Q4 both in quarterly (+2.0 units) and yearly terms (+6.3 units). A more robust improvement in economic sentiment is a necessary condition for the Greek economy to enter into a sustainable growth path.