According to the survey, output growth in the Greek manufacturing sector remained high in May, although supply chain disruptions weighed on the upward trend and led input costs higher.
Supply chain disruptions worsened as companies scrambled to stockpile and increase purchases to counterbalance the impact of delays in deliveries. Still, the pace of cost growth was the fastest in about a year and a half. Although historically high, the growth rate of output cost slowed compared to April.
S&P Global’s seasonally adjusted Purchasing Managers’ Index™ (PMI) for Greece’s manufacturing sector stood at 54.9 in May, down from 55.2 in April, indicating further improvement in the Greek manufacturing sector. The pace of growth remained historically high, although it eased to the slowest level in four months.
Job creation was supported by an improvement in the outlook for output among goods producers in May. Confidence was at a historic high and the strongest it has been in three months.
