Greece Factory Growth Strongest In 3 Months

(RTTNews) - Greece's manufacturing activity expanded at an accelerated pace in June amid an improvement in demand conditions, survey data from S&P Global showed on Wednesday.

The manufacturing Purchasing Managers' Index climbed to 53.8 in June from 53.3 in the previous month. A reading above 50.0 indicates expansion.

New orders grew at the quickest pace in three months, while the international sales environment was subdued as new export orders fell for the fifth successive month.

The growth in output also improved to the strongest since March, linked to investment in expanding capacity.

Supply chain pressures intensified as transportation and freight delays linked to the war in the Middle East continued.

On the price front, input price inflation remained marked in June amid Higher prices for transportation, fuel, energy, and raw materials. Nonetheless, cost inflation eased to the lowest level in four months. As a result, selling price inflation also moderated since May.

Looking ahead, firms remained confident about output expectations over the next twelve months, with the degree of optimism hitting its highest level since the war in the Middle East began.