Greece Factory Growth Weakest In 7 Months

(RTTNews) - Greece's manufacturing growth moderated to a 7-month low in April amid softer expansions in output and new orders, survey data from S&P Global showed on Monday.

The manufacturing Purchasing Managers' Index dropped to 52.4 in April from 54.5 in the previous month. However, any reading above 50.0 indicates expansion.

The growth in new orders eased substantially as demand was weighed by widespread uncertainty among customers and pressure from higher costs. New export orders also fell at the fastest pace since December 2022.

Firms also faced intensified supply-chain disruptions as the war in the Middle East created logistics difficulties and caused material shortages. As a result, lead times lengthened markedly and to the greatest extent in three and a half years.

On the price front, input price inflation accelerated to the highest in almost four years as cost burdens increased by input shortages, especially for chemicals, plastics, and oil-derived products. Consequently, selling price inflation accelerated to the sharpest level in three-and-a-half years.

Both employment and input buying increased at slower rates in April, and business confidence remained historically low.