Greece: Manufacturing PMI climbs to four-month high in August
September 2, 2019
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) edged up to a four-month high of 54.9 in August from 54.6 in July. 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.
August’s upturn reflected faster growth in output and new orders amid upbeat client demand. Firmer demand conditions also led firms to increase their staff levels, with the pace of job creation remaining historically strong. On the price front, both input cost and output charge inflation slowed compared to July. Lastly, confidence among goods-producers inched up to a series-high, owing to their positive assessment over future production.
Author: Javier Colato, Economist