Greek economic sentiment index rose significantly at 91.6 points in January, from 87.1 in December, but remained below a 95.9 point level recorded in January 2015, according to the Institute for Economic and Industrial Research (IOBE).

IOBE attributed this development to improved expectations in all business sectors, particularly in services.

“The picture of total stabilization which is recorded in the last few months in business activity is not reversed although expectations remained still below last year’s levels.

On the other side, consumer confidence weakened as expectations on households’ finances in the next 12 months have been deteriorated significantly, discounting negative developments in family income due to expected changes in social insurance,” IOBE said in the report.