BRUSSELS (dpa-AFX) - Greece's manufacturing activity logged a further strong improvement in June, driven by robust growth in new orders, survey data from S&P Global showed on Tuesday.
The manufacturing Purchasing Managers' Index dropped marginally to 53.1 in June from 53.2 in May. However, any reading above 50.0 indicates expansion.
The survey revealed that new orders grew at the quickest pace in three months due to more upbeat demand conditions and the acquisition of new customers.
On the other side, new export orders fell further as foreign client demand was hampered by global economic and geopolitical uncertainty, alongside tariffs on goods to the USA.
Nonetheless, the overall increase in total new orders spurred another upturn in production, employment, and purchasing in June.
On the price front, input price inflation accelerated to a 3-month high due to higher costs for energy and raw materials. As a result, selling price inflation rose to the steepest since March.
'Signs of caution in the outlook emerged, however, as employment growth eased to the weakest since the start of the year and business confidence dipped to an eight month low,' Sian Jones, Principal Economist at S&P Global Market Intelligence, said.
'Geopolitical and global economic uncertainty look set to weigh on output in the coming months, but nonetheless, we currently expect industrial production to rise by 3 percent in 2025.'
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