Asahi shares mark weekly slide after cyberattack halts production
Investing.com -- Greece’s manufacturing sector continued to expand in September, though at a slower pace than in August, according to the latest S&P Global Greece Manufacturing PMI data released Wednesday.
The seasonally adjusted S&P Global Greece Manufacturing Purchasing Managers’ Index fell to 52.0 in September from 54.5 in August, indicating a modest improvement in operating conditions. While this marks the second-slowest growth in ten months, it remains above the long-run series average of 50.4.
New orders increased for the eleventh consecutive month, though at the weakest rate since February. The growth was primarily driven by domestic demand, as new export orders decreased for the fifth straight month, with the contraction accelerating to the fastest pace since December 2022.
Production levels expanded again in September, supported by greater new order inflows and productivity improvements. However, the pace of output growth was the second-slowest in ten months.
Employment rose solidly as manufacturers hired more full-time staff to handle increased workloads, with the pace of job creation easing only slightly from August’s three-month high.
On the price front, cost inflation slowed to its lowest level since November 2023, despite sustained demand for inputs. Output charge inflation also moderated as firms sought to remain competitive, though price increases remained historically elevated.
Business confidence strengthened to the highest level since June, with companies expressing optimism about increased construction and real estate activity and more favorable economic conditions in the coming months.
"The Greek manufacturing sector remained a bright spot in the Eurozone as output and new orders signalled sustained expansions at the close of the third quarter," said Siân Jones, Principal Economist at S&P Global Market Intelligence.
Jones noted that S&P Global Market Intelligence forecasts Greek consumer price inflation to increase by 3.1% in 2025, exceeding the European Central Bank’s 2% target for the broader Eurozone.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.