Greece: Manufacturing PMI ticks down in April
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell to 52.4 in April from March’s 52.8. As a result, the index remained above the 50.0 no-change threshold, pointing to a softer improvement in manufacturing sector operating conditions from the previous month.
The headline downtick was solely driven by a softer rise in output. Notably, client demand strengthened, which led new orders to increase at the fastest rate since January 2022 and employment levels to rise at the sharpest rate for a year. Additionally, vendor performance improved markedly as supply chain disruptions eased further, which in turn contributed to both input cost and output charge inflation easing. Meanwhile, sentiment among manufacturers improved on hopes of greater client demand ahead.