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Greece PMI June 2024

Greece: Manufacturing PMI rises in June

The S&P Global Greece Manufacturing Purchasing Managers’ Index (PMI) fell to 54.0 in June from May’s 54.9. As a result, the index moved closer to the 50.0 no-change threshold, and signaled a slower improvement in manufacturing-sector operating conditions compared to the previous month.

Output and new orders grew at a softer, but still-solid rate, while employment levels continued to rise, albeit at the softest rate in four months. Meanwhile, supply chain disruptions, particularly in global shipping routes, caused a steep lengthening of lead times for inputs, impacting vendor performance in turn.

Looking at prices, input price inflation remained historically elevated due to higher transportation and raw material costs, although the rate of increase softened slightly from May. Output inflation was also high by recent standards, but similarly cooled as firms aimed to stay competitive. Lastly, business confidence dipped to the weakest in 2024 so far, although manufacturers remained generally optimistic about the future.

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