Greek Factory Activity at 5-Month Peak

The S&P Global Greece Manufacturing PMI edged up to 54.5 in March 2026 from 54.4 in the previous month. This marked the highest reading since August 2025, supported by continued growth in both output and new orders, which have risen in tandem every month since November 2024 amid resilient domestic demand. Manufacturers also increased hiring in March to meet rising production needs, albeit with job creation slowing to an eight-month low due to higher costs. On the price front, input cost inflation intensified to its strongest level since June 2022, driven primarily by higher oil, energy, and raw material prices. In response, output charges accelerated at the fastest rate in nearly three and a half years. Finally, business confidence fell to its lowest level in just over a year and a half, with manufacturers citing persistent uncertainty surrounding the Middle East conflict and its potential impact on raw material costs and supply chain stability.

The S&P Global Greece Manufacturing PMI rose slightly to 54.4 in February 2026 from 54.2 in January, marking the fastest improvement since August 2025. Growth was driven by sharper increases in production and new orders, the latter rising at the steepest pace in six months, largely supported by domestic demand. Firms continued to hire and expand purchasing, although difficulties finding suitably-skilled staff limited the pace of job creation, while backlogs of work accumulated for the first time in ten months. Input costs rose at the fastest rate in almost a year, driven by higher metals and transportation prices, yet selling price inflation softened as companies sought to balance cost pass-through with competitive pricing. Supplier performance also improved, delivery delays eased, and inventories were accumulated for the first time in two and ten months. Manufacturers remained confident of output growth over the next 12 months, supported by planned investments and new projects.

The S&P Global Greece Manufacturing PMI rose to 54.2 in January 2026 from 52.9 in December, the highest since last August. Growth was driven by a faster rise in production, supported by stronger customer confidence and a sharp increase in new orders, the quickest in five months. Demand improved both at home and abroad, with manufacturers reporting slightly better export sales to European markets. Firms responded to higher workloads by continuing to hire, extending a run of job creation that has lasted since late 2024, while improved capacity helped reduce backlogs. Cost pressures intensified, with input prices rising at the fastest pace since March 2025 due to higher metal and transport costs, and companies passed these increases on through higher selling prices. Supply chains faced some disruption from protests and logistics issues, leading to longer delivery times and lower inventories. Looking ahead, manufacturers remained optimistic, expecting production to rise further in 2026.