Greece PMI November 2018

Greece

Greece: Manufacturing PMI hits 6-month high in November

December 3, 2018

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose to 54.0 points in November from 53.1 points in October. Accordingly, the PMI lies further above the critical 50-point threshold that separates expansion from contraction in business conditions in the manufacturing sector, where it has been for over a year.

November’s rise was driven chiefly by faster growth of output and new orders. Notably, new orders gained steam thanks to domestic new business, while orders from abroad grew at the softest pace in over one year. Amid stronger demand, firms added jobs at a record pace in November, with the fastest increase seen in the history of the series that began in 1999. Business confidence also improved in November, while price pressures remained elevated due in part to higher fuel costs.

FocusEconomics Consensus Forecast panelists see fixed investment rising 5.0% in 2019, which is unchanged from the previous month. For 2020, the panel expects fixed investment to expand 4.1%.


Author: Angela Bouzanis, Lead Economist

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Greece PMI Chart


Greece PMI November 2018

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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