Greece Factory Activity Hits Five-Month High

The S&P Global Greece Manufacturing PMI edged up to 54.4 in August from 54.3 in July, signalling a stronger improvement in operating conditions and the strongest expansion since March. New orders grew at the fastest pace since March, supported by stronger client demand, while new export orders increased for a second month. Employment also expanded at the sharpest rate since May 2025, as firms increased staffing to meet rising workloads, while input buying also accelerated. However, output growth eased as material shortages and persistent supply chain disruptions constrained production. On the price front, input cost inflation accelerated due to higher energy, fuel and material prices, particularly oil-derived products, while output price inflation eased to its slowest pace since February. Meanwhile, business confidence strengthened to its highest since January 2024, supported by expectations of stronger orders, new client wins and investment in new facilities.

The S&P Global Greece Manufacturing PMI rose to 54.3 in July 2026 from 53.8 in June, signalling a solid improvement in operating conditions. Output expanded at the fastest pace in five months, supported by sustained client demand and further growth in new orders. Export orders also increased for the first time in six months and at the fastest rate since April 2025. Employment rose at the sharpest pace since November 2025, allowing firms to keep up with incoming work as backlogs declined for a second month. Input costs continued to increase, driven by higher material and energy prices, although inflationary pressures eased. Output price inflation also softened to a four-month low. Pre-production inventories fell for a fourth consecutive month amid longer supplier lead times caused by shipping delays and shortages. Firms remained optimistic about production over the coming year, although confidence eased slightly.

The S&P Global Greece Manufacturing PMI rose to 53.8 in June 2026 from 53.3 in May, signaling the strongest improvement in the health of the goods-producing sector since March. Total new orders increased at the fastest pace in three months, with companies citing a broader pickup in demand, while some also pointed to customer stockpiling efforts. Production also expanded at its quickest rate since March. However, firms reported a fifth monthly decline in new export orders. Meanwhile, companies increased staffing levels, leading to a renewed drop in backlogs of work. Input buying rose solidly and at the fastest pace since March, although another marked lengthening in supplier delivery times continued to complicate efforts to replenish inventories. At the same time, inflationary pressures cooled somewhat, but rates of increase in input prices and output charges remained historically elevated. Finally, goods producers were more upbeat about the outlook for output over the coming year.