Development Minister : Greece ranks third in the world in PMI

Specifically, the Minister wrote the following: "As Minister of Industry of the Hellenic Republic, I feel proud that during my tenure and under these circumstances, Greece climbed to 3rd place in the World in the Procurement Index (PMI), the leading Index for Productivity . Congratulations".

It is worth recalling that in December there was a significant improvement in operating conditions throughout the Greek manufacturing sector due to the sharp increase in production and employment. Although the growth rate of new orders slowed down, at the end of 2021 it was generally steep and was supported by the stronger demand of domestic and foreign customers.

The IHS Markit Greece Manufacturing PMI rose to 59 in December of 2021, from 58.8 in the previous month. It was the 10th straight month of expansion in the manufacturing sector and the strongest since August, amid strong expansions in new orders, output and employment. A sustained uptick in client demand leading to a historically elevated rise in total sales and growing backlogs of work caused firms to step up their hiring activity at the sharpest rate since February 2020. Meanwhile, material shortages and input delivery delays pushed cost burdens up, albeit at the slowest rate for four months. Consequently, firms continued to pass-through higher costs to clients, causing selling prices to increase at a marked pace. Looking forward, expectations regarding future production rose to their strongest since June amid hopes of softer price hikes and sustained client demand in 2022