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Greece PMI September 2022

Greece: Manufacturing PMI increases but remains below the 50-threshold in September

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 49.7 in September, up from August’s 48.8. As such, the index remained below the 50.0 no-change threshold for a third consecutive month, signaling a continued deterioration in manufacturing sector operating conditions from the previous month.

Notwithstanding September’s improvement, all operating conditions worsened. The weakening was chiefly driven by deteriorations in new orders and output; demand was affected by increases in prices, which depressed the purchasing power of domestic and foreign customers. Moreover, weaker demand led to a marginal decline in employment for a second successive month. Turning to prices, the input prices rose more quickly on the back of higher transport and raw materials costs—ending three months of softening price hikes. Consequently, output price growth accelerated from last month. Meanwhile, business sentiment dipped slightly but remained positive.

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