Manufacturing PMI in Greece increased to 59.30 points in August from 57.40 points in July of 2021. source: Markit Economics

Manufacturing PMI in Greece averaged 48.62 points from 2011 until 2021, reaching an all time high of 59.30 points in August of 2021 and a record low of 29.50 points in April of 2020. This page provides the latest reported value for - Greece Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

Manufacturing PMI in Greece is expected to be 58.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Greece Manufacturing PMI is projected to trend around 54.60 points in 2022 and 52.80 points in 2023, according to our econometric models.

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Greece Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
59.30 57.40 59.30 29.50 2011 - 2021 points Monthly

News Stream
Greece August Factory Growth Fastest In Over 21 Years
The IHS Markit Greece Manufacturing PMI jumped to 59.3 in August of 2021 from 57.4 in the previous month, boosted by sharper expansions in production and new orders. It marked the strongest improvement in the operating conditions since April 2000. New orders inflows expanded significantly as client demand was the steepest since May 2000 due to further reopening of the economy and growth in key overseas markets. New export orders rose at a quicker rate than seen in July. Production levels growth was also the strongest since April 2000 due to greater new order inflows and increased client demand. Moreover, employment increased at a faster rate as manufacturers hiked hiring to reduce pressure on capacity. Meanwhile, both input costs and output charges remained elevated amid severe supplier shortages and greater global demand for inputs. Looking forward, output expectations for the year ahead improved during August and business confidence, was strong overall and above the series average.
Greek Factory Activity Remains Strong in July
The IHS Markit Greece Manufacturing PMI went down to 57.4 in July of 2021 from 58.6 in the previous month. The latest improvement in operating conditions across the Greek manufacturing sector was the third-fastest in over 21 years and sharp overall despite the headline index dipping to a three-month low, supported by sustained production and new order growth. Rates of expansion in output and new sales remained historically elevated. There were some reports, however, that production growth was constrained by material shortages and pressure on competitiveness following another increase in selling prices. The need to pass-through costs stemmed from a near-record rise in input prices amid severe supply-chain disruption. As a result of poor vendor performance and an uncertain supply flow, business confidence slipped to the lowest in four months.
Greece Factory Growth Strongest in 21 Years
The IHS Markit Greece Manufacturing PMI jumped to 58.6 in June of 2021 from 58 in the previous month, marking the strongest growth in factory activity since April 2000. New orders rose the most in 21 years, amid stronger client demand from both domestic and foreign markets. Output, employment and purchasing activity also continued to increase sharply, although firms highlighted heightened pressure on capacity. Subsequently, inflationary pressures intensified with both input inflation and selling price inflation accelerating to the fastest on record. Finally, business sentiment moderated slightly amid supply chain uncertainty but it was above the series average.
Greece Factory Growth Strongest since 2000
The IHS Markit Greece Manufacturing PMI jumped to 58.0 in May of 2021 from 54.4 in the previous month, pointing to the strongest growth in factory activity since April of 2000. May’s data revealed a sharp two-year high growth rate in output, boosted by the reopening of the tourism and hospitality sectors. Moreover, new orders inflows expanded at a notably faster pace, driven by strengthening demand, and a rebound in new export orders, thus ending with a 14-month period of consecutive declines. There was also a fast increase in employment, but backlogs rose amid capacity pressures due to component shortages and rising new orders. In fact, manufacturers experienced substantial supply-side disruptions, from shortages to transportations delays, which not only led to strong increases in input buying, but also to soaring input prices. Lastly, business confidence kept improving across the manufacturing sector driven by brighter outlooks concerning client demand.

Greece Manufacturing PMI
The Markit Greece Manufacturing Purchasing Managers' Index measures the performance of the manufacturing sector and is derived from a survey of 350 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.