FX.co ★ Greek Manufacturing Growth Steady in May

The S&P Global Greece Manufacturing PMI remained constant at 53.2 in May 2025, consistent with the previous month. This stabilization was driven by a continued increase in new orders and a more robust growth in production. In response to the uptick in new orders, companies intensified their hiring efforts, resulting in the fastest employment growth since January 2022. Consequently, manufacturers succeeded in reducing their work backlogs for the first time in three months, with the reduction rate being the second quickest since January 2024. However, the time required for suppliers to deliver lengthened once more, attributed to traffic and logistical delays, alongside reports of some material shortages. On the pricing front, cost inflation moderated for the second month in a row, reaching its lowest point in 15 months. Moreover, business confidence improved in April, surpassing the series average, spurred by increased initiatives to connect with new clients and planned investments in new machinery and product development.