Greece PMI April 2016


Greece: PMI rises slightly in April

May 4, 2016

The Markit manufacturing Purchasing Managers’ Index (PMI) rose slightly in April, increasing to 49.7 from 49.0 in March. As a result of the rise, the index lies just below the 50-threshold that separates contraction from expansion in the manufacturing sector.

According to Markit, April’s reading points to a softer downturn in the sector. Output levels stabilized in April after having fallen for the previous three months, and export orders increased. In addition, employment grew for the second consecutive month, albeit only slightly. Markit analysts commented that, “purchasing activity rose for the first time since August 2014, highlighting that there are some encouraging signs pointing to a revival in the manufacturing sector of Greece over the coming few months.”

FocusEconomics Consensus Forecast panelists see fixed investment falling 0.5% in 2016, which is up 0.9 percentage points from the previous month’s estimate. For 2017, the panel expects fixed investment to expand 0.9%.

Author: Angela Bouzanis, Senior Economist

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Greece PMI Chart

Greece PMI April 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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