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Greece PMI June 2023

Greece: Manufacturing PMI picks up in June

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 51.8 in June, up from May’s 51.5. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in manufacturing sector operating conditions compared to the previous month.

June’s uptick was chiefly driven by a sturdier expansion in new orders, stemming from stronger domestic and foreign demand. Against this backdrop, firms expanded their headcount at a sharper rate. Meanwhile, output continued to expand, albeit at a slower pace. On the price front, both input costs and output charges decreased again in June thanks to lower energy prices. That said, the decline softened on both ends due to material shortages and stronger demand allowing firms to pass through prior costs increases to clients. Lastly, sentiment among manufacturers eased but remained upbeat, thanks to positive developments in government funding schemes and hopes of an improving global outlook.

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