Another rise in PMI for March; the 34th increase in 35 months
Greece’s purchasing managers index (PMI) rose to 53.7 in March from 52.3 in February as manufacturing continued to grow, NTC Research and the Hellenic Purchasing Institute announced yesterday. NTC Research said the rise was due to increased production, new orders, procurement and employment, combined with signs of containment in supplies. It was the 34th rise in Greece in 35 months. The survey of about 300 purchasing managers indicated that manufacturing continued to expand at rates not seen since November 2000. Production rose for the 35th consecutive month, picking up speed from February. New orders from foreign and domestic buyers also increased, showing the strong pickup in exports since September 2000, NTC said. Manufacturing continued to boost employment levels during March and at a faster clip than in the previous month. The rise in employment in March reached its highest levels since August, with more than 90 percent of those surveyed either increasing or maintaining their workforce levels. «Companies realized that they needed to hire more staff to expand their business ability ahead of a rise in production and new orders,» NTC said. In the wider eurozone, the Reuters Eurozone Purchasing Manager’s index continued its recent ascent from October’s series low, climbing to 50.0 from 48.6 in February. (Reuters) How do you see things developing thereafter?
