Greece PMI June 2019

Greece

Greece: Manufacturing PMI drops to lowest level since November 2017

July 1, 2019

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.

FocusEconomics Consensus Forecast panelists see fixed investment rising 3.1% in 2019, which is unchanged from the previous month. For 2020, the panel expects fixed investment to expand 4.9%.


Author: Angela Bouzanis, Lead Economist

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Greece PMI Chart


Greece PMI June 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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