Greece: Manufacturing PMI hits 12-month high in March
April 2, 2019
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose from 54.2 points in February to 54.7 in March, the best reading in one year. As a result, the PMI climbed further above the critical 50-point threshold that separates expansion from contraction in business conditions in the manufacturing sector, where it has been for nearly two years.
March’s upturn mainly reflected faster growth of output and employment. Output expanded at the best pace since February 2018 amid solid demand from at home and abroad. Moreover, jobs were added at the sharpest rate since the series began in 1999, reflecting the economy’s improved momentum. On the price front, input cost inflation rose in part due to a poor harvest and prompted firms to raise output prices at the quickest pace since September 2018.