The S&P Global Greece Manufacturing PMI slipped to 54.0 in September from 54.4 in August, still indicating a solid improvement in operating conditions, though at a slightly slower pace. The easing in the headline index came despite stronger demand, with total new orders rising at their fastest rate since March and export orders posting their sharpest increase in 18 months.
Output growth picked up marginally, and employment continued to expand robustly as firms responded to the stronger inflow of orders. However, growth in input purchasing lost momentum as manufacturers drew more heavily on existing inventories. At the same time, transport disruptions and material shortages kept supplier delivery times under sustained pressure.
Cost pressures strengthened, driven by higher prices for oil, fuel, energy, and materials, leading to a quicker rise in output charges. While business confidence eased slightly amid concerns over pricing power, it remained elevated overall, underpinned by planned investments in technology and the acquisition of new clients and contracts.
