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Greek PMI records a modest increase in November

01 December 17 - RE+D Magazine
Greek PMI records a modest increase in November

COMPANIES

ETAD.A.E.

Public entity - GREECE

Eurobank Property Services

Consultant - GREECE

ΕΡΡΙΚΟΣ ΑΡΩΝΕΣ

Investment - GREECE

NAI Hellas

Consultant - GREECE

PEOPLE

Dimitris Andritsos

CEO of Eurobank Property Services S.A Eurobank Property Services
The Greek manufacturing sector continued to grow in November with the Purchasing Managers' Index rising slightly to 52.2 points in the month from 52.1 in October, staying on a recovery course for the sixth successive month, Markit said on Friday.

 

The report said that strong customer demand was the main factor for growth, while the growth rate of new works recorded a 45-month high. Greek manufacturing companies hired more personnel in November, at the highest rate in 18 years, pushing production levels higher.

An increase in inflow prices slowed in the month, while average charge prices remained generally unchanged. New orders recorded their strongest growth since February 2014, as a result of lower sale prices and strengthened demand.

This increase was recorded both in domestic and external markets, with export orders rising for the second successive month. Pending works volume fell further in November, while manufacturing companies raised their purchasing activity for the fifth month in a row.

Greek manufacturing companies raised production levels in November for the sixth successive month, although the growth rate slowed compared with October, while inventories fell at the fastest rate since February.

Average delivery times continued rising. The PMI is a composite index measuring business activity in the manufacturing sector. Readings above 50 indicate a growing sector while readings below 50 a shrinking sector.

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