Greek May Sentiment Worsened With Inconclusive Election

Greek economic sentiment worsened in May as the country’s political leaders failed to form a government after elections that gave no party a majority.

An index measuring short-term economic trends slipped to 76 from 77.3 in April, the Athens-based Foundation for Economic & Industrial Research said in an e-mailed report today. Sentiment in the industrial sector dropped to 77.1 from 81.6, while in the construction industry it fell to 36.5 from 40.8.

Consumer confidence improved to minus 75.8 from minus 78.7, and in the retail industry it improved to 58.2 from 52.4, the foundation said.

Greece is preparing for its second national election in six weeks on June 17. The inconclusive May 6 ballot showed gains for parties, led by Syriza, that oppose terms of the country’s bailouts from the European Union and the International Monetary Fund.

To contact the reporter on this story: Marcus Bensasson in Athens at mbensasson@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net