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Financial News: Greece Manufacturing Sector Continues To Expand

Greece Manufacturing Sector Continues To Expand

12/01/2021 - 06:27:00 (RTTNews)

(RTTNews) - Greece manufacturing sector grew at a stronger pace in November, survey data from IHS Markit showed on Wednesday.

The manufacturing Purchasing Managers' Index posted 58.8 in November, down fractionally from 58.9 in October.

Production across the manufacturing sector increased strongly in November, with the pace of expansion matching that seen in October.

Total new sales grew markedly in November. Despite strong demand conditions, the rate of expansion slowed to a four-month low.

Shortages pushed input prices higher, as the rate of cost inflation accelerated to a series record.

Firms sought to pass higher input prices on to clients, with output charges rising at a substantial pace. The rate of inflation was the second-sharpest on record, despite some concerns regarding cancelled orders due to hikes in selling prices.

Although cost burdens ticked higher again, manufacturing firms increased their input buying at the sharpest pace since May 2000.

Finally, expectations regarding the outlook for output over the coming year strengthened from October.

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