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Greece PMI November 2019

Greece: Manufacturing PMI increases in November

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose to 54.1 in November from 53.5 in October. Thus, the PMI climbed further above the critical 50-threshold that separates expansion from contraction in business conditions in the manufacturing sector.

November’s increase mainly reflected faster growth in output and new orders. Notably, new export orders quickened to a six-month high amid improved foreign demand. Stronger demand conditions also led firms to raise their staffing levels at a steep pace. On the price front, although input cost inflation accelerated amid higher raw material and supplier costs, goods producers raised their selling prices only fractionally. Lastly, business confidence turned more upbeat, owing to firms’ improved assessment over future output.

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