Greece PMI March 2019


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.

FocusEconomics Consensus Forecast panelists see fixed investment rising 1.0% in 2019, which is unchanged from the previous month. For 2020, the panel expects fixed investment to expand 3.0%.

Author: Angela Bouzanis, Lead Economist

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Greece PMI Chart

Greece PMI March 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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