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Greece PMI April 2022

Greece: Manufacturing PMI rises in April

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 54.8 in April, up from March’s 54.6. As such, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in business conditions compared to the previous month.

April’s slight rise was driven by quicker growth in new orders and a rebound in exports, which had contracted in March. However new orders growth was still moderate, and output growth was the slowest since April 2021. Furthermore, firms continued to hire new workers in a bid to process incoming work, albeit at the softest rate since September. Meanwhile, delivery times were worsened in April by the Ukraine conflict, lengthening to one of the greatest extents on record. On the price front, there were significant hikes in selling prices because of increasing transportation and fuels costs and shortages in materials, with firms passing on higher costs to customers where possible. Finally, business confidence softened to the lowest level since October 2020.

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