Greece PMI


Greece: PMI jumps back into expansion territory in August

September 1, 2014

The Markit manufacturing Purchasing Managers’ Index (PMI) rose from 48.7 in July to 50.1 in August, which represented the highest level in three months. As a result, the index is now just barely above the 50-threshold, which indicates expansion in the manufacturing sector.

According to Markit, manufacturing output in August was boosted by a lift in new orders. However, “the recovery remains on a soft footing and employment levels in the sector continued to slide.” In addition, “another factor that remains detrimental to job creation prospects is the constant pressure on profitability from falling output prices.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 1.5% in 2014, which is down 0.5 percentage points from the previous month’s estimate. For 2015, the panel expects fixed investment to increase 4.9%.

Author:, Senior Economist

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Greece PMI Chart

Greece PMI August 2014 0

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

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