Greece: Manufacturing PMI unchanged in July

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) was steady in July, unchanged at June’s 53.5 points. The index remains comfortably above the critical 50-point threshold that signals expansion in the manufacturing sector, where it has been for over one year.1

Strong output and new orders growth kept the index in expansionary territory. Solid client demand was reported from both abroad and at home, while job creation picked up from the previous month. However, business confidence slipped slightly from the previous month. Regarding prices, higher raw materials costs caused price pressures to build in July.

Greece Fixed Investment Forecast

FocusEconomics Consensus Forecast panelists see fixed investment rising 2.7% in 2018. For 2019, the panel expects fixed investment to expand 6.5%.