S&P Global’s seasonally adjusted Purchasing Managers’ Index (PMI) for the manufacturing sector in Greece stood at 56.9 points in March, up from 55.7 points in February, indicating the fastest improvement in the sector’s robustness since February 2022. The growth rate accelerated for the sixth consecutive month and was significantly above the prevailing trend in the survey.

The rise was attributed to a stronger increase in new orders received by Greek manufacturers, according to the S&P Global survey. The increase in new sales was the strongest since November 2021, as companies attributed the rise to stronger demand from domestic and international customers. In fact, the increase in new export orders accelerated at the fastest rate recorded in more than two years. As a result, goods producers increased output volumes as production levels rose at the strongest rate on record since August 2021. Alongside the continued and strong rise in new jobs, companies linked output growth with investment in more efficient production processes.