Greece Manufacturing Activity Logs Strong Growth

(RTTNews) - Greece manufacturing activity registered a strong growth in January underpinned by faster rise in production, survey data from S&P Global showed on Tuesday.

The manufacturing Purchasing Managers' Index dropped to 52.6 in February from 52.8 in the previous month. However, a reading above 50.0 indicates expansion.

The reading suggested the slowest growth in three months but it remained above the series average.

Output grew at the second-fastest pace since June 2024 due to a sustained rise in new orders and a favorable sales environment. The pace of growth in new export orders outpaced that of total new sales.

Manufacturers expanded their workforce numbers at a faster pace. The rate of job creation was the quickest for nine months.

Goods producers logged another fall in backlogs of work as increased employment helped to clear work-in-hand.

Regarding prices, the survey showed that input costs grew at the sharpest pace since November 2022. Manufacturers raised their output charges at the slowest pace in three months.

Finally, expectations about output over the coming year remained historically elevated in February. But the degree of optimism weakened to the lowest in four months.