First improvement in manufacturing in nine months


Greek manufacturing activity expanded in June for the first time in nine months amidst job growth in the sector, according to a survey released Monday.

Markit's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about 10 percent of the economy, rose to 50.5 from 49.6 in May. Readings above 50 denote expansion in activity.

A rise in new orders - albeit minor - helped support the expansion rate while business from abroad continued to fall.

"Having endured a miserable start to 2017, the latest survey data is welcome news for Greek manufacturers as the PMI pointed to growth for the first time since August last year," said IHS Markit economist Alex Gill in a statement.

The data showed that companies raised staffing numbers for the second successive month, with the rate of job creation the highest in nearly a year.


© 2019 by The Greek Guru. 

  • Facebook B&W
  • Twitter B&W
  • Pinterest Social Icon
  • YouTube Social  Icon