Greece PMI January 2018

Greece

Greece: PMI hits over decade-high in January

February 2, 2018

The Greek economy started 2018 on a bright note according to the IHS Markit manufacturing Purchasing Managers’ Index (PMI). The PMI rose in January, increasing from December’s 53.1 to 55.2. January’s result marked the best reading since October 2007.The index lies far above the 50-threshold, which signifies an expansion in the manufacturing sector.

Behind the improvement was record high business confidence and fast employment growth. In addition, strong demand from both at home and abroad fueled solid output growth. Firms also ramped up purchasing activity due to higher demand. On the price front, input price inflation rose on the back of higher prices for raw materials. Meanwhile, business confidence hit a record high.

FocusEconomics Consensus Forecast panelists see fixed investment rising 3.2% in 2018, which is unchanged from the previous month’s estimate. For 2019, the panel expects fixed investment to expand 4.7%.


Author: Angela Bouzanis, Senior Economist

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Greece PMI Chart


Greece PMI January 2018

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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