Financial News: Greece Manufacturing Growth Hits 5-Month High

Greece Manufacturing Growth Hits 5-Month High

01/02/2025 - 07:13:00 (RTTNews)

(RTTNews) - Greece's manufacturing activity expanded at the strongest pace in five months in December amid quicker increases in output and new orders, survey results from S&P Global showed on Thursday.

The Purchasing Managers' Index, or PMI, for the manufacturing sector rose to 53.2 in December from 50.9 in November. A reading above 50 suggests expansion in the sector.

Output grew at the fastest pace since June on the back of stronger client demand and a faster rise in new sales. The growth in new business was underpinned by greater demand from key industries, including construction, alongside a rise in external customer interest, which boosted new business.

Greater demand from customers in the US, Europe, Asia, and the Middle East pushed the rate of increase in foreign orders to the strongest in eight months.

Greek manufacturing employment showed a renewed increase in December, while input buying expanded at a faster rate.

On the price front, inflationary pressures intensified as input costs and output charges rose at quicker rates. The rise in input price inflation was due to supplier shortages for some items, especially foodstuffs.

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