The coast of Greece

Greece PMI March 2024

Greece: Greece manufacturing sector sees stronger growth in March

The S&P Global Greece Manufacturing Purchasing Managers’ Index (PMI) rose to 56.9 in March from 55.7 in February. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in manufacturing sector operating conditions compared to the previous month.

The improvement was driven by sharper increases in new orders and in production volumes. Greek manufacturers experienced the strongest rise in new sales since November 2021, attributed to increased demand from both domestic and foreign clients. New export order growth quickened to the fastest in over two years, leading to the steepest rise in output levels since August 2021. This upturn in new work allowed firms to raise staffing numbers at the fastest pace since April 2022.

Regarding prices and business sentiment, cost pressures intensified due to disruptions in logistics routes, notably through the Suez Canal, leading to a steep increase in input costs. Amid these challenges, firms continued to pass higher costs onto customers. However, the rate of increase in selling prices eased from February. Business confidence regarding future output softened slightly, even as firms remained optimistic about a rise in output over the coming year, driven by the sharp upturn in new orders.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest