In a promising sign for Greece's economic outlook, the country's Manufacturing Purchasing Managers' Index (PMI) climbed to 51.2 in October 2024, according to S&P Global. This marks an improvement from the previous month's reading of 50.3, indicating a return to expansion territory.
The upward movement in the PMI suggests that Greece's manufacturing sector is experiencing a boost in activity, following a period of stagnation in September. A PMI reading above 50 typically signifies an overall expansion of the sector, while a reading below 50 indicates contraction. With the index now above the 50-point threshold, the latest data points to an encouraging strengthening of manufacturing activities.
This positive development in the manufacturing sector could signal robust demand and a potential uptick in production levels, aiding in Greece's broader economic recovery. Economists and market watchers will be keenly observing subsequent PMI readings to gauge the sustainability of this growth and its impact on the country's economic trajectory. The updated PMI data was released on 01 November 2024.
