Greece PMI July 2019


Greece: Manufacturing PMI bounces back from near two-year low in July

August 1, 2019

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) bounced back to a three-month high of 54.6 in July from 52.4 in June, which had marked the lowest level in nearly two years. As a result, the PMI moved further above the critical 50-point threshold that separates expansion from contraction in business conditions in the manufacturing sector.

July’s upturn reflected faster growth in output, new orders and employment. New business rose sharply, which prompted manufacturers to increase output substantially. More upbeat demand conditions also led firms to raise their staff levels. On the price front, goods-producers raised their selling prices after having lowered them in June, while input cost inflation eased to an over three-year low. Lastly, confidence among manufacturers strengthened markedly, with sentiment reaching the highest point since the series began in July 2012.

FocusEconomics Consensus Forecast panelists see fixed investment rising 5.3% in 2019, which is unchanged from the previous month. For 2020, the panel expects fixed investment to expand 4.9%.

Author:, Economist

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Greece PMI Chart

Greece PMI July 2019

Note: IHS Markit Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector, while readings below 50 point to a contraction
Source: IHS Markit

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