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Greek PMI rose to 54.7 points in March

Featured Greek PMI rose to 54.7 points in March

The Greek Purchasing Managers' Index (PMI) rose to 54.7 points in March, from 54.2 in February, IHS Markit said in a report released on Monday.

In a monthly report, IHS Markit said the manufacturing sector continued growing for the 22nd month in a row, the longest period of growth recorded after the previous run, which ended in October 2001.

Markit attributed this development to a stronger increase in production, which grew at the fastest rate in 12 months. New orders continued rising in March, although at a slightly slower pace compared with February, related with an increase in advertisement and strong demand. New export orders grew faster and remained on a growth trend for the 18th consecutive month. Job creation rate was faster, the fastest ever recorded, while volume of pending works fell for the second month in a row.

Manufacturers were more confident in March, with optimism levels rising to 11-month highs. Inflow prices grew faster because of avhigher cost of raw materials, but competitive pressure prohibited any decisions to raise roll-over burden to customers. Outflow prices, however, grew at the fastest rate since September 2018.