Greece PMI October 2021


Greece: Manufacturing PMI improves in October

November 1, 2021

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) came in at 58.9 in October, up from 58.4 in September. As a result, the PMI moved further above the critical 50-threshold, signaling another robust improvement of operating conditions in the manufacturing sector compared to the previous month.

October’s reading largely reflected a significant rise in new business, amid higher domestic and foreign demand, which in turn buoyed output. However, expansion was hindered due to persisting material shortages. More positively, in order to cope with demand, firms increased their headcounts for the tenth successive month, while manufacturers remained optimistic over output in the 12 coming months.

On the price front, input cost inflation hit a fresh record high, as raw material shortages and logistics disruptions exerted upward pressures on prices. In response, firms hiked their selling prices at the sharpest pace on record.

FocusEconomics Consensus Forecast panelists see fixed investment rising 9.9% in 2022, which is down 0.3 percentage points from last month’s estimate. For 2023, the panel expects fixed investment to expand 7.9%.


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Greece PMI Chart

Greece PMI October 2021

Note: IHS Markit Purchasing Managers’ Index. Readings above 50 indicate improving operating conditions in the manufacturing sector, while readings below 50 point to worsening conditions.
Source: IHS Markit.

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