Greece Manufacturing PMI2011-2021 Data | 2022-2023 Forecast | Calendar | Historical

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.

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.

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.

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.