Grecia Actividad económica May 2023

Grecia: Manufacturing PMI falls in May

The S&P Global Manufacturing Purchasing Managers’ Index (PMI) came in at 51.5 in May, down from April’s 52.4. As such, the index remained above the 50.0 no-change mark, pointing to a continued, albeit moderating, improvement in manufacturing sector operating conditions from the previous month.

May’s decline was driven by a softer increase in new orders, which rose at a marginal rate, and a deceleration in employment growth. That said, output continued to rise at a robust pace as firms fulfilled new orders and worked through backlogs of work. Turning to prices, both input costs and output charges decreased for the first time in over two years, due to improved vendor performance and declining energy costs. Lastly, manufacturers remained optimistic over the coming year on hopes of greater client demand and projected investment in new products.