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Greece\u2019s manufacturing sector experienced its most robust growth since April 2024 last month, driven by accelerated expansions in output, new orders and employment, a survey by S&P Global showed on Tuesday.<\/p>\n
The seasonally adjusted S&P Global Greece Manufacturing Purchasing Managers\u2019 Index (PMI) rose to 55.0 in March from 52.6 in February, signaling a significant improvement in operating conditions for Greek manufacturers.<\/p>\n
A PMI reading above 50 indicates growth, while below 50 signals contraction.<\/p>\n
The March data highlighted a notable uptick in demand, with new orders and export sales rising at the fastest pace in nearly a year, supported by stronger domestic and foreign demand.<\/p>\n
That prompted manufacturers to increase their workforce at the sharpest rate since January 2022.<\/p>\n
\u201cGrowth in the Greek manufacturing sector accelerated at the end of the first quarter, as the pace of expansion reached the strongest for almost a year,\u201d said Sian Jones, principal economist at S&P Global Market Intelligence:<\/p>\n
\u201cImprovements in demand conditions supported greater output, new orders, input buying and employment.\u201d<\/p>\n
However, inflationary pressures intensified, with input costs rising at the quickest rate since November 2022.<\/p>\n
This led to a corresponding increase in selling prices as manufacturers passed on higher costs to customers.<\/p>\n
Despite these challenges, manufacturers expressed optimism about future output growth, buoyed by expectations of continued demand strength and increased construction activity.<\/p>\n
Manufacturers\u2019 confidence in future output was at its highest since January 2024.(Reuters)<\/p>\n<\/p><\/div>\n