Greece PMI September 2019


Greece: Manufacturing PMI dips in September

October 1, 2019

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) declined to 53.6 in September from 54.9 in August, which had marked a four-month high. Despite the dip, the PMI remained comfortably above the critical 50-threshold that separates expansion from contraction in business conditions in the manufacturing sector.

September’s fall reflected slower growth in output and employment. That said, production still expanded strongly, while new orders rose at one of the sharpest rates seen in over a decade amid firmer client demand. In addition, firms continued to increase their staff levels, albeit at the second-slowest pace since December 2017. On the price front, both input cost and output charge inflation increased only fractionally compared to August. Lastly, confidence among goods-producers remained robust, owing to their favorable assessment over demand conditions at home.

FocusEconomics Consensus Forecast panelists see fixed investment rising 6.0% in 2019. For 2020, the panel expects fixed investment to expand 5.2%.

Author:, Economist

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Greece PMI Chart

Greece PMI September 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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