Greece: Manufacturing PMI reaches a near two-decade high in April
May 2, 2019
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose from 54.7 in March to 56.6 in April, the highest reading since June 2000. As a result, the PMI climbed further above the critical 50-point threshold that separates expansion from contraction in business conditions in the manufacturing sector, where it has been for nearly two years.
April’s upturn reflected faster growth in output, new orders and employment. Production expanded at the fastest pace since October 2007, driven by solid customer demand at home and abroad. New orders also accelerated notably in April amid strong demand from new and existing clients. Moreover, the pace of job creation was the fastest since the series began in May 1999. On the price front, goods-producers raised output prices at the quickest rate since September last year despite input cost inflation moderating in April.
Greece Fixed Investment Forecast
FocusEconomics Consensus Forecast panelists see fixed investment rising 1.5% in 2019, which is unchanged from the previous month. For 2020, the panel expects fixed investment to expand 4.1%.
Author: Javier Colato, Economist