Greece: Manufacturing PMI drops to lowest level since November 2017
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) dropped to 52.4 in June from 54.2 in May, the lowest level in nearly two years. Despite the fall, the PMI lies comfortably above the critical 50-point threshold that separates expansion from contraction in business conditions in the manufacturing sector.
June’s downturn reflected slower growth in new orders, which increased at the softest pace since October 2017. Accordingly, output also rose at a more moderate pace and employment growth lost steam. On the price front, goods-producers lowered output prices, while input cost inflation moderated to a three-year low.