Greece PMI


Greece: PMI fall in June points to manufacturing contraction

July 1, 2014

The Markit manufacturing Purchasing Managers’ Index (PMI) inched down from 51.0 in May to 49.4 in June, which represented the lowest level in seven months. The index is now below the 50-threshold, which indicates contraction in the manufacturing sector.

According to Markit, the deterioration came on the back of a slower growth in output as, “a slight fall in new orders underpinned the loss of momentum.” In addition, “another negative development highlighted by June’s survey was a renewed decline in manufacturing employment.” On a positive note, new export business rose for the second consecutive month.

FocusEconomics Consensus Forecast panelists see fixed investment rising 1.5% 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 Chart

Greece PMI June 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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