Greece: Manufacturing PMI picks up in October
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) rose to 50.8 in October from September’s 50.3. 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.
October’s improvement was spearheaded by an acceleration in output, which was partly driven by the resumption of some operations; the fallout of Storm Daniel and Storm Elias prompted several closures in September. Moreover, new orders rose at a quicker pace. Less positively, firms reduced their headcounts for the first time since January.
On the price front, input costs rose further amid higher energy and raw material prices. As a result, companies raised their output charges at the sharpest rate since March. Lastly, sentiment among manufacturers strengthened.