The IHS Markit Greece Manufacturing PMI rose to 59 in December of 2021, from 58.8 in the previous month. It was the 10th straight month of expansion in the manufacturing sector and the strongest since August, amid strong expansions in new orders, output and employment. A sustained uptick in client demand leading to a historically elevated rise in total sales and growing backlogs of work caused firms to step up their hiring activity at the sharpest rate since February 2020. Meanwhile, material shortages and input delivery delays pushed cost burdens up, albeit at the slowest rate for four months. Consequently, firms continued to pass-through higher costs to clients, causing selling prices to increase at a marked pace. Looking forward, expectations regarding future production rose to their strongest since June amid hopes of softer price hikes and sustained client demand in 2022. source: Markit Economics

Manufacturing PMI in Greece averaged 48.94 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 January of 2022.

Manufacturing PMI in Greece is expected to be 54.40 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 2023 and 52.80 points in 2024, according to our econometric models.

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Greece Manufacturing PMI


Related Last Previous Unit Reference
Manufacturing PMI 59.00 58.80 points Dec/21

News Stream
Greek Factory Activity Growth Strongest in 4 Months
The IHS Markit Greece Manufacturing PMI rose to 59 in December of 2021, from 58.8 in the previous month. It was the 10th straight month of expansion in the manufacturing sector and the strongest since August, amid strong expansions in new orders, output and employment. A sustained uptick in client demand leading to a historically elevated rise in total sales and growing backlogs of work caused firms to step up their hiring activity at the sharpest rate since February 2020. Meanwhile, material shortages and input delivery delays pushed cost burdens up, albeit at the slowest rate for four months. Consequently, firms continued to pass-through higher costs to clients, causing selling prices to increase at a marked pace. Looking forward, expectations regarding future production rose to their strongest since June amid hopes of softer price hikes and sustained client demand in 2022.
2022-01-03
Greek Factory Activity Marginally Lowers in November
The IHS Markit Greece Manufacturing PMI slightly eased to 58.8 in November of 2021 from 58.9 in the previous month, but pointed to the 9th straight month of expansion in the sector. The overall upturn was driven by elevated expansions in output and a sharp rise in new orders, linked to greater client demand. On the other hand, firms reported to struggle with material shortages, resulting in record high input prices. The supply-chain disruptions and inflationary pressure led to series record in the backlogs of work, hampering further production potential. Consequently, employment growth quickened to a five-month high. Looking forward, expectations regarding future production increased, as business confidence was lifted by higher client demand.
2021-12-01
Greek Factory Activity Consolidates in October
The IHS Markit Greece Manufacturing PMI rose half a percentage point to 58.9 in October of 2021, close to a record 59.3 hit last August, pointing to the 8th straight monthly expansion in the sector. The overall upturn was driven by strong inflows of new orders, reflecting robust foreign and domestic demand as looser travel restrictions allowed for greater tourist activity. Output also increased but goods producers said severe supply chain issues, such as material shortages, all-time high delivery times and record input price inflation hampered growth. Employment stayed on a growth path for the tenth month in a row, although backlogs of work accumulated at an unprecedented rate. Looking forward, firms remained confident for the year ahead on hopes of greater tourist activity although concerns about prices and the global supply chain curbed some enthusiasm.
2021-11-01

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), Suppliersā€™ 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.