According to the monthly report released by the Institute for Economic and Industrial Research (IOBE) on Monday, Greece’s economic sentiment index fell slightly to 102.3 points in July, from 103.7 in June.

IOBE said that, although there is a slight improvement of expectations in services, manufacturing and retail sectors, the climate in construction deteriorated.

Consumer confidence also fell after four successive months of improvement.

The adjustment of expectations observed in July, after the recent rise, can be explained partly by the fact that a period of increased tax obligations is about to begin.