Greece Manufacturing Growth Strongest Since April 2000

Greece's manufacturing activity increased at the strongest rate since April 2000, survey results from IHS Markit showed on Tuesday.

The manufacturing Purchasing Managers' Index rose to 58.6 in June from 58.0 in May. A reading above 50.0 indicates expansion in the sector.

New order inflow increased in June and new sales was the quickest for twenty-one years. New export sales grew at the sharpest pace since February last year.

Output increased in June and the rate of expansion was the second-fastest since February last year.

Input price inflation rose for the eleventh straight month in June and selling price inflation was the quickest since the survey began in November 2002.

Employment growth was the strongest since the pandemic began and backlogs of work quickened in June.

Output expectation for the coming 12 months moderated slightly in June and the degree of optimism was above the series average.

"That said, efforts to retain customers and stabilize order inflows mean that our current forecast for CPI remains at 0.3 percent year-on-year in 2021," Sian Jones, senior economist at IHS Markit, said.

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