Greece PMI


Greece: PMI inches up in December

January 1, 2015

The Markit manufacturing Purchasing Managers’ Index (PMI) inched up from 49.1 in November to 49.4 in December. As a result, the index is closer to the 50-threshold that separates contraction from expansion in the manufacturing sector.

According to Markit, the increase in December mainly reflected a slight increase in output, supported by a moderate rise in employment. Conversely, new orders declined in December for the fourth consecutive month, particularly due to a fall in new export orders. Prices charged by goods’ manufacturers also dropped in December, continuing the downward trend that began in 2011. As pointed out by Markit, “slight rises in output and employment at year-end are relative positives but are unlikely to develop into meaningful trends without the support of new order growth.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 1.1% in 2015, which is down 0.3 percentage points from the previous month’s estimate. For 2016, the panel expects fixed investment to increase 5.8%.

Author:, Economist

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Greece PMI Chart

Greece PMI December 2014

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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