ATHENS, May 2 (Reuters) - Greek factory activity
expanded in April for the third month in a row, with growing
output and new orders leading to the sharpest rise in employment
in a year, a survey showed on Tuesday.
S&P Global's Purchasing Managers' Index (PMI) for
manufacturing, which accounts for about 10% of the Greek
economy, eased slightly to 52.4 in April from 52.8 in March but
held above the 50 mark indicating growth in activity.
Output production rose for the third straight month in April
as new orders increased at the steepest pace since January 2022,
the survey showed.
"Manufacturing conditions in Greece continued to improve,
with the sector the strongest performing across the euro zone in
April," said S&P Global economist Sian Jones.
Although costs and selling prices rose further, inflation
slowed to only marginal rates, as demand for inputs waned and
supplier performance improved to the greatest extent in over 13
years, Jones said.
Manufacturers took on more staff overall for the third month
in a row, with employment rising at the fastest pace for a year.
Business confidence among Greek manufacturers rose to its
highest level since January 2022 on hopes that client demand and
investment in marketing will grow further, despite softer
foreign demand.
S&P Global forecasts that industrial output will contract by
0.5% this year, as still elevated inflation and challenges in
key export markets are seen weighing on demand.
(Reporting by Angeliki Koutantou; Editing by Hugh Lawson)
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))
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