FX.co ★ Greece Manufacturing Growth Accelerates in October

The S&P Global Greece Manufacturing PMI climbed to 53.5 in October, up from 52.0 in September, signaling a more robust expansion within the manufacturing sector. Production output and domestic new orders experienced accelerated growth, despite a slight continued decline in export orders. Employment saw a strong increase, primarily driven by full-time hires, which contributed to alleviating backlogs. Firms ramped up input purchases and inventory levels significantly to counteract supply chain disruptions and raw material shortages, which consequently led to a sharper increase in input costs. Nevertheless, output price inflation remained moderate, thanks to discounting strategies. Business confidence rose to its strongest level since May, bolstered by investment initiatives and anticipated sustained order growth, with S&P Global projecting a 1.4% rise in industrial production by 2025.