Greece PMI April 2017


Greece: PMI edges up in April

May 2, 2017

The Markit manufacturing Purchasing Managers’ Index (PMI) edged up in April, but business conditions remain bleak in Greece’s manufacturing sector. The PMI came in at 48.2 points in April, up from 46.7 in March. The index lies below the 50-threshold that separates contraction from expansion in the manufacturing sector.

April saw another month of tumbling new orders, prompting a further contraction in output. Against this backdrop, manufacturers tightened their belts and continued to lay off staff and purchase less inputs. Despite lower demand for input goods, costs rose, further narrowing profit margins as firms were not able to hike their sales prices. On a brighter note, businesses remained optimistic over future output.

FocusEconomics Consensus Forecast panelists see fixed investment rising 4.0% in 2017, which is down 1.4 percentage points from the previous month’s estimate. For 2017, the panel expects fixed investment to expand 3.6%.

Author: Angela Bouzanis, Lead Economist

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