Greece: Manufacturing PMI records worst reading since January in September
The S&P Global Manufacturing Purchasing Managers’ Index (PMI) fell to 50.3 in September from August’s 52.9. September’s result marked the weakest reading since January. Consequently, the index remained above the 50.0 no-change threshold, pointing to a softer improvement in manufacturing sector operating conditions from the previous month.
In September, weak demand at home and abroad led to softer growth in new orders. This, together with supply chain distortions stemming from floods, led to a deceleration in output growth. Against this backdrop firms expanded their headcounts at the slowest pace since February.
On the price front, input costs continued to rise amid material shortages and soaring energy costs. Consequently, firms rose their output charges for the first time since April. Lastly, sentiment among manufacturers worsened due to recent weather events and softer demand conditions.
In September, weak demand at home and abroad led to softer growth in new orders. This, together with supply chain distortions stemming from floods, led to a deceleration in output growth. Against this backdrop firms expanded their headcounts at the slowest pace since February.
On the price front, input costs continued to rise amid material shortages and soaring energy costs. Consequently, firms rose their output charges for the first time since April. Lastly, sentiment among manufacturers worsened due to recent weather events and softer demand conditions.