Greece PMI May 2016


Greece: PMI falls to three-month low in May

June 1, 2016

The Markit manufacturing Purchasing Managers’ Index (PMI) fell in May, decreasing to 48.4 from 49.7 in April. As a result, the index still lies below the 50-threshold that separates contraction from expansion in the manufacturing sector.

According to Markit, May’s reading came on the back of a decline in new orders, which fell at the fastest pace in eight-months. In addition, output decreased and job losses were recorded in May.

FocusEconomics Consensus Forecast panelists see fixed investment falling 0.6% in 2016, which is unchanged from the previous month’s estimate. For 2017, the panel expects fixed investment to expand 2.9%.

Author: Angela Bouzanis, Lead Economist

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Greece PMI Chart

Greece PMI May 2016

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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