In December, Greece's manufacturing sector witnessed its most significant growth in five months, driven by accelerated output and a surge in new orders, according to data released by S&P Global on Thursday.
The Manufacturing Purchasing Managers' Index (PMI) increased to 53.2 in December, up from 50.9 in November. A PMI above 50 indicates sector expansion.
The output in December accelerated at its fastest rate since June, fueled by robust client demand and a quicker rise in sales. This growth in new business was supported by heightened demand from key sectors such as construction, along with increased interest from external markets, which bolstered new sales.
There was notable growth in foreign orders, reaching its highest in eight months, spurred by rising demand from customers in the US, Europe, Asia, and the Middle East.
Greek manufacturing employment experienced a rebound in December, with input purchases increasing more rapidly as well.
On the pricing front, inflationary pressures mounted, with both input costs and output prices rising at faster rates. The increase in input price inflation was attributed to supplier shortages of certain items, particularly foodstuffs.
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