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.
Author: Alexandros Petropoulos,