The IHS Markit Greece Manufacturing PMI decreased to 48.6 in July of 2020 from 49.4 in the prior month, reversing the trend towards recovery seen following April's record low. Output and new orders declined at a quicker pace, as uncertainty surrounding the coronavirus pandemic weighed on domestic and foreign client demand. Employment was also cut marginally but stemmed from an accelerated rise in spare capacity at goods producers. On the price front, input prices rose for the first time in four months amid higher raw material costs. Meanwhile, output charges continued to fall as firms used further discounting in an attempt to boost sales and attract new clients. Looking ahead, the degree of optimism over an increase in output over the coming year dropped notably from June's four-month high, despite sentiment remained positive overall.
Manufacturing PMI in Greece averaged 48.21 points from 2011 until 2020, reaching an all time high of 56.60 points in April of 2019 and a record low of 29.50 points in April of 2020. This page provides the latest reported value for - Greece Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics
Manufacturing PMI in Greece is expected to be 47.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Greece to stand at 52.90 in 12 months time. In the long-term, the Greece Manufacturing PMI is projected to trend around 54.00 points in 2021 and 52.80 points in 2022, according to our econometric models.