Greece PMI November 2018

Greece

Greece: Manufacturing PMI drops in October

November 2, 2018

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) edged down to 53.1 points in October from September’s 53.6 points. Despite the fall, the PMI remained above the critical 50-point threshold that separates expansion from contraction in business conditions in the manufacturing sector, where it has been for over a year.

October’s moderation was driven by falling output growth, which dropped to a six-month low. In addition, new business activity lost steam, although still remained healthy overall, and business confidence receded. On a bright note, firms’ added jobs at one of the fastest paces ever recorded. Meanwhile, price pressures were mixed in the month: Firms reduced output charges due to steep competition, while input price inflation rose on the back of higher energy and commodities prices.

FocusEconomics Consensus Forecast panelists see fixed investment rising 6.4% in 2019, which is unchanged from the previous month. For 2020, the panel expects fixed investment to expand 3.9%.


Author: Angela Bouzanis, Senior Economist

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Greece PMI Chart


Greece PMI October 2018

Note: 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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