Greece Manufacturing Growth Remains Solid In April

(RTTNews) - Greece's manufacturing activity continued to expand strongly in April despite relatively softer demand conditions, survey data from S&P Global showed on Friday.

The manufacturing Purchasing Managers' Index dropped to 53.2 in April from 55.0 in the previous month. However, a reading above 50.0 indicates expansion.

New orders rose for the sixth successive month in April amid sustained client demand for domestically produced goods. Nonetheless, the rate of growth eased from March's ten-month high.

Output grew at the slowest pace in three months, but the pace of increase was above the series average.

Rising new orders encouraged firms to increase their workforce numbers in April, though the rate of job creation softened to the weakest in three months.

Manufacturers faced supply chain constraints in April as further delays to delivery times for inputs.

On the price front, input price inflation eased to the weakest in more than a year but was historically elevated due to higher raw material and imported goods prices.

Looking ahead, manufacturers remained optimistic regarding a rise in output over the coming year in April as confidence was driven by planned investment in new machinery and product development.