S&P Global's seasonally adjusted Purchasing Managers' Index (PMI) for the manufacturing sector in Greece closed October at 51.2 points, up from 50.3 points in September.

According to the S&P Global survey, operating conditions in the Greek manufacturing sector improved to a greater extent in October, according to the latest S&P Global PMI survey data.

The overall pace of growth accelerated in September, driven by new increases in output and employment. However, demand conditions across the sector remained subdued as new orders fell again.

Lower new sales abroad also contributed to the decline in total new orders. The goal of increasing finished goods stocks drove the increase in production, and companies also hired more people as a result of higher business confidence.

Panel members noted weaker cost pressures as demand for inputs declined across the sector. Input prices rose at the weakest pace recorded since April as cost savings were passed on to customers through slower growth in selling prices.

The recent improvement in sector health was stronger than the survey average, although it was the second weakest in nearly a year. Following a slight contraction during the previous survey period, a new increase in output in October supported the sector's growth.

As a result of efforts to increase finished goods safety stocks, the growth rate was noticeably slower than it had been earlier in the year. In addition, finished goods inventories increased for the first time since March 2023 and at the fastest pace recorded since August 2020.