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Greece PMI August 2023

Greece: Manufacturing PMI falls in August

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 52.9 in August, down from July’s 53.5. As such, the index remained above the 50.0 no-change threshold, pointing to a moderating improvement in manufacturing sector operating conditions from the previous month.

In August, client demand remained solid and both new orders and output continued to expand robustly, albeit at a softer pace relative to July. Against this backdrop, firms scaled up their purchasing activity for the second consecutive month, and continued to expand their headcounts, which contributed to a decline in backlogs of work. Meanwhile, supply delivery times lengthened.

On the price front, input costs rose for the first time in three months due soaring raw material and energy prices. That said, output charges remained broadly unchanged. Lastly, sentiment among manufacturers improved, boosted by hopes of further investment opportunities ahead.

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