The coast of Greece

Greece PMI May 2022

Greece: Manufacturing PMI records worst reading since March 2021 in May

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 53.8 in May, down from April’s 54.8. May’s result marked the worst reading since March 2021. Consequently, the index remained above the 50.0 no-change threshold, pointing to a continued, albeit moderating, improvement in business conditions from the previous month.

May’s slower improvement was driven by the absence of growth in new orders and softer output growth—both chiefly caused by the current inflationary pressures. On the back of this, companies reduced their inventories, with stocks of current inputs and finished goods declining. Meanwhile, hikes to input prices were passed on to customers as selling prices also increased at a rapid pace. Finally, business expectations improved, driven by a belief that prices will stabilize, and that demand and investment in new products will improve.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest