Greece PMI

Greece

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.

FocusEconomics Consensus Forecast panelists see fixed investment rising 0.1% in 2014, which is down 0.5 percentage points from the previous month’s estimate. For 2015, the panel expects fixed investment to increase 4.9%.


Author:, Senior Economist

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Greece PMI May 2014 0

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


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