Greece PMI May 2019

Greece

Greece: Manufacturing PMI slips from a near two-decade high in May

June 3, 2019

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) dipped to 54.2 in May from 56.6 in April, which had marked the highest reading in nearly two decades. Despite the fall, the PMI lies comfortably above the critical 50-point threshold that separates expansion from contraction in business conditions in the manufacturing sector, where it has now been for two years.

May’s downturn largely reflected slower growth in output. Production expanded at the weakest pace in three months; that said, it still remained strong amid upbeat demand at home and abroad. New orders also grew solidly in May while the pace of job creation was among the quickest in series’ history. On the price front, goods-producers raised output prices for the fourth month in a row despite input cost inflation moderating to a near three-year low. Lastly, manufacturers remained strongly optimistic in the surveyed month.

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 4.3%.


Author:, Economist

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Greece PMI May 2019

Note: IHS Markit Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector, while readings below 50 point to a contraction
Source: IHS Markit


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