Greece: Manufacturing PMI climbs to 10-month high in February
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) jumped from 54.4 in January to 56.2 in February, marking a 10-month high. Thus, the PMI rose further above the critical 50-threshold, indicating an improvement in operating conditions in the manufacturing sector.
February’s increase mainly reflected faster growth in output, new orders and employment amid stronger customer demand. Notably, new export orders rose at quickest clip since March 2007 and firms raised their staffing levels markedly again, with the pace of job creation reaching the second-fastest in series history as firms increased their capacity to clear backlogs of work. On the price front, input cost inflation eased despite increased pressure on global supply chains amid the coronavirus outbreak, while goods producers hiked selling prices due to upbeat demand. Lastly, business confidence strengthened again, with output expectations reaching a new record-high.