Greece PMI June 2016


Greece: PMI rises to over two-year high in June

July 1, 2016

The Markit manufacturing Purchasing Managers’ Index (PMI) returned to expansionary territory in June, posting the best result in over-two years. The PMI rose from 48.4 in May to 50.4 in June. As a result, the index lies above the 50-threshold that separates expansion from contraction in the manufacturing sector.

According to Markit, June’s reading game on the back of the largest rise in employment in almost nine years. In addition, output expanded for the first time in 2016. Despite these positive developments, evidence suggest that demand conditions remain weak and new orders declined. In addition, port strikes increased delivery times and pushed up input costs. On top of this, increased taxes and steel prices also contributed to a rise in input costs. Markit analysts commented that, “with austerity measures in the economy continuing to take their toll, culminating in further port strikes, most notably at Piraeus and Thessaloniki, the manufacturing sector still has a few obstacles slowing its path to a full recovery. However, the signs of output picking up and employment rising will encourage manufacturing firms as they enter into the second half of 2016.”

FocusEconomics Consensus Forecast panelists see fixed investment falling 0.7% in 2016, which is up 0.1 percentage points from the previous month’s estimate. For 2017, the panel expects fixed investment to expand 3.3%.

Author: Angela Bouzanis, Senior Economist

Sample Report

Looking for forecasts related to PMI in Greece? Download a sample report now.


Greece PMI Chart

Greece PMI June 2016 0

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

Greece Economic News

  • Greece: Unemployment rate ticks down in December

    March 8, 2018

    The number of unemployed people dropped by 6,978 in December from the previous month and by 127,352 compared with December 2016, according to recent data released by the Hellenic Statistical Authority (EL.STAT). The unemployment rate ticked down marginally in December, coming in at 20.8%, from November’s revised 21.0% (previously reported: 20.9%).

    Read more

  • Greece: GDP grows at near one-decade high in Q4

    March 5, 2018

    According to a provisional dataset released by the Hellenic Statistical Authority (EL.STAT), the Greek economy accelerated in the final quarter of 2017, ending the year on more solid footing.

    Read more

  • Greece: PMI jumps to multi-year high

    March 1, 2018

    The IHS Markit manufacturing Purchasing Managers’ Index (PMI) pointed to sustained momentum in the Greek economy in February, jumping to 56.1 points, up from 55.2 points in January.

    Read more

  • Greece: Industrial production growth slides in December

    February 16, 2018

    Industrial production expanded a working-day-adjusted 0.2% in December compared to the same month of the previous year, which was notably below November’s revised 2.0% growth (previously reported: +0.8% year-on-year).

    Read more

  • Greece: Unemployment rate unchanged in November

    February 8, 2018

    The number of unemployed fell by 103 in November from the previous month and by 119,363 compared with November 2016, according to recent data released by the Hellenic Statistical Authority (EL.STAT). The unemployment rate was unchanged from October’s revised 20.9% (previously reported: 20.8%).

    Read more

More news