Greece PMI March 2017


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.

FocusEconomics Consensus Forecast panelists see fixed investment rising 5.4% in 2017, which is down 0.2 percentage points from the previous month’s estimate. For 2017, the panel expects fixed investment to expand 4.0%.

Author: Angela Bouzanis, Lead Economist

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Greece PMI Chart

Greece PMI March 2017

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

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