Greece PMI


Greece: PMI falls in June

July 1, 2015

The Markit manufacturing Purchasing Managers’ Index (PMI) fell from 48.0 in May to 46.9 in June. As a result, the index remains further below the 50-threshold that separates contraction from expansion in the manufacturing sector.

According to Markit, June’s fall came on the back of the sharpest contraction in production recorded in two years. New orders decreased sharply because of weak demand. In addition, employment fell, however, at a modest pace. Regarding prices, cost inflation eased from May’s multi-year high. Markit added, “with negotiations over a debt deal ongoing in June demand was subdued, leading new orders – both from domestic and international clients – to fall even faster than May.”

FocusEconomics Consensus Forecast panelists see fixed investment falling 1.4% in 2015, which is down 1.7 percentage points from the previous month’s estimate. For 2016, the panel expects fixed investment to increase 4.1%.

Author: Angela Bouzanis, Senior Economist

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Greece PMI Chart

Greece PMI June 2015 0

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

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