Greece's manufacturing sector experienced a notable improvement in August, with the S&P Global Manufacturing PMI rising to 54.4, up from 54.3 in July. This marks the strongest expansion in operating conditions since March. The primary drivers behind this growth were a substantial increase in new orders, which saw their fastest pace of growth since March, and a second consecutive month of rising new export orders, indicating stronger client demand both domestically and internationally. Consequently, employment within the manufacturing sector also expanded.
For freight forwarders and supply chain professionals, this positive trend in Greek manufacturing suggests an increase in demand for logistics services, particularly for exports. Enhanced production and export orders typically translate to higher volumes of cargo requiring transport, potentially impacting capacity and rates for sea and road freight routes connecting Greece to its trading partners. Forwarders should monitor this sustained growth as it may lead to more consistent shipment opportunities from the region.
