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.”