Greek PMI rises to 54.8 points in April 2022

The manufacturing sector in Greece continued to grow in April 2022, with the Purchasing Managers’ Index (PMI) rising to 54.8 points, up from 54.6 points in March 2022, S&P Global announced, in a report on Tuesday.

The report said Greek manufacturers recorded slightly increased production last month, the slowest rate growth rate since April 2021. Specifically, new orders increased, although shortages in materials and rising prices limited demand by customers.

New orders grew more in April 2022, although at a slower rate than the corresponding month of 2021, whereas Greek manufacturers posted a new increase in export orders.

Sale prices continued to rise, as companies passed increasing costs to customers.

Inflow costs and factory prices grew faster, as well, reflecting higher prices for materials, such as plastics, chemicals and metals, along with higher transport and fuel costs.

The volume of pending orders grew at a slower pace in April, while manufacturers continued increasing their workforce.

Conversely, delivery times worsened in April 2022, while business confidence in the sector weakened further.

The PMI is a composite index measuring business activity in the manufacturing sector. Readings above 50 indicate a growing sector, while readings below 50 indicate a shrinking sector.