Greece: PMI falls in March
April 3, 2017
The Markit manufacturing Purchasing Managers’ Index (PMI) edged down in March, as Greece’s manufacturing sector shows no sign of recovering. The PMI came in at 46.7, down from February’s 47.7. The index lies below the 50-threshold that separates contraction from expansion in the manufacturing sector.
According to IHS Markit, the downturn came amid sharper drops in output and new orders. In addition, weak operating conditions caused firms to reduce employees and input buying. Meanwhile, price pressures remained elevated, but the bleak situation caused firms to reduce selling prices despite high inflation in order to attract more clients. On a bright note, firms remained optimistic over future output going forward.