The European Commission’s Greek economic sentiment index reached its highest level since February 2015, rising to 98.2 points in July, up from 94 points in June.

According to the Athens-based Foundation for Economic and Industrial Research which conducts the monthly survey, this result is proof of a gradual return to economic optimism by companies and consumers, after the conclusion of the second review of the Greek bailout programme.

The indicator is a composite economy assessment tool, measuring confidence in various sectors of the economy – from services, construction and retail, to the industrial sector and the ever-important consumer confidence.

The sector mostly responsible for the index rise is construction, which has picked up due to the commissioning of public works. The delivery of the latest bailout loan tranche also added to the result, along with praise from the country’s creditors who publicly stated that the adjustment programme remains on target.