In February, the Greek manufacturing sector showed signs of significant recovery according to the latest data from the S&P Global PMI® index. The overall growth was bolstered by sharp increases in production and new orders, with production growth reaching its fastest pace in about a year. The improved demand conditions were primarily focused on the domestic market, while new export orders returned to decline levels mid-way through the first quarter. Companies further increased their input purchases and employment levels, despite challenges in finding suitably skilled personnel negatively impacting job creation, indicating an upward trend in unfulfilled workloads. Reports suggest that the influx of new orders has strengthened the outlook for production.

Despite a faster pace in the increase of input costs, the rise in selling prices is being tempered. The continuous increase in costs is a concern for manufacturers, yet it appears that they are managing to adapt their pricing strategies to maintain competitiveness. This phenomenon may indicate a careful balancing act that businesses are performing to not only expand production but also to cope with the rising costs of materials while keeping selling prices manageable and attractive for customers. Overall, the advancements in the manufacturing sector reflect both challenges and opportunities as businesses adapt to shifting market demands.