The growth rate of the Greek manufacturing sector remained high in May, according to the S&P Global PMI report released on Monday. 

The main Purchasing Managers' Index (PMI) for Greek manufacturing, which accounts for 10% of the Greek economy, fell to 54.9 points in May from 55.2 in April.

According to the report, the pace of growth in production and new orders was strong overall, although it weakened to a four-month low, as strong demand from customers continued. 

However, some companies reported that capacity problems hampered growth. 

Supply chain disruptions continued to worry Greek manufacturers as supplier performance deteriorated to a greater extent in May. Delays in input deliveries due to problems in the Red Sea routes, along with domestic traffic problems, were the main factors for supplier delays.

According to the survey, panel members indicated that the prices of raw materials, including cocoa, fruit, and plastics, were reportedly driving up costs. 

As observed in April, the backlog volume fell marginally in May, as a larger inflow of new orders coincided with reports of difficulties in the delivery of inputs. In an effort to boost their production capacity, Greek manufacturers hired additional workers, while employment levels rose strongly.

An improved outlook for output among producers of goods in May helped to support job creation. The confidence level was historically high and the strongest recorded in three months.