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Slight expansion of manufacturing economy in Greece

Staff writer ▼ | July 5, 2016
June’s PMI survey of Greek manufacturers signalled a return to marginal expansion of the sector, underpinned by a first rise in output of 2016 so far and the best increase in employment since July 2007.
Greece manufacturing
Greek industry   Markit Greece Manufacturing PMI
That said, demand conditions remained extremely fragile, with new orders down again amid reports that the economic climate was still broadly negative. In addition, port strikes led to longer times for the delivery of inputs and were also a factor pushing up input costs to the greatest degree since last August.

The seasonally adjusted Markit Greece Manufacturing Purchasing Managers’ Index (PMI) – a composite indicator designed to measure the performance of the manufacturing economy – posted above the 50.0 no-change level in June.

At 50.4, compared to May’s 48.4, the implied rate of growth was marginal, but this was nonetheless the first expansion registered in 2016 so far. June’s survey indicated an increase in production, ending a five-month run without growth.