Greece: Manufacturing PMI stable in May
June 2, 2014
The manufacturing Purchasing Managers’ Index (PMI) was virtually unchanged in May, inching down from 51.1 in April to 51.0. May’s result represents the lowest level since March of this year. That said, the index has been just above the 50-point threshold for two consecutive months, which indicates expansion in the manufacturing sector.
A slight improvement in factory output was recorded and new orders rose for the seventh consecutive month. In addition, purchasing activity increased slightly over the previous month. Conversely, the rate of job creations decreased in May.
Author: Dirina Mançellari, Senior Economist