Growth but at the weaker pace since November the previous one was recorded in the Greek processing sector in July, according to the latest PMI data from S&P Global.

Decrease growth was a consequence of the weaker increase in production, new orders and employment, along with the new shrinkage of supplies.

Meanwhile, companies have recorded a slower increase in input markets as they used supplies to handle new orders. In addition, the production potential was sufficient for the timely processing of incoming work, as the volume of undeclared work was reduced at a higher rate.

However, economic uncertainty negatively affected business optimism, as expectations were the least encouraging recorded since last August.

At the same time, cost -effective pressures were weakened, as input prices increased at a weaker rate. Customer attraction efforts have led to a slower increase in sales prices recorded in October 2024.

Closing at 51.7 points in July, the S&P Global seasonally customized index for the Purchasing Managers’ Index ™ – PMI) recorded a lower price of 53.1 points in June and indicated the slowest recovery of operating conditions.

However, the overall increase was high in the context of the historical data of the research.

The less intense overall development of the sector was contributed to the weaker growth rate of the new orders received by Greek manufacturers in July. The rate of growth was the slowest recorded since February, partly as a consequence of yet another reduction in new export orders in July. However, the rate of reduction was just marginal and the weaker one recorded in the current three -month continuous shrinkage period.

As a result, the producers of goods continued to increase their production levels, but at a more moderate pace, at the beginning of the third quarter. The marginal rate of growth was the slowest recorded in eight months, but in general it was in line with the long -term average of research.

By analogy to the weaker increase in total new orders, Greek manufacturers hired additional workers at a slower pace in July. Although moderate, the rate of job creation was the weaker one recorded in eight months. Members of the panel said that in cases where new staff was hired, the purpose was to support production.

Commenting on the figures, Siân Jones, head of S&P Global Market Intelligence economist, said: “The Greek processing sector has indicated a decrease in dynamic growth during July, as production increases, new orders, employment and markets were slowed down. In addition, expectations for the following year have retreated to the weaker level recorded since last August due to economic uncertainty. Problems in the supply chain deteriorated during the month, as deliveries were influenced by extraordinary measures to tackle heat, which limited the working hours of suppliers, and delays in international transport. ”

“Nevertheless, stock levels and the number of workers were sufficient to reduce unspecified work at the heavier pace recorded since December 2023, due to the evidence of unused production potential in the field. July data indicated moderate rates of increasing input costs and output charges as efforts to boost sales prevented increases in sales prices. However, pricing pressures remained historically sluggish, providing some margin with customers, “he concluded.