Greek Manufacturing PMI Hits 6-Month Low In November

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Tuesday, Markit Economics reported that the Greece Manufacturing Purchasing Managers' Index stood at a seasonally adjusted 47.3 in November. A reading above 50 indicates expansion, while one below 50 suggests contraction. This marks a six-month low in the PMI and signals at deteriorating business conditions for Greek manufacturers.

Manufacturing production fell modestly in November in response to further contractions in new order volumes. New incoming business fell at a robust pace, with foreign demand particularly weak.

Lower production requirements and cost pressures fuelled a further reduction in employment levels in the manufacturing sector. Employment has contracted during every month since May 2008. Meanwhile, input price inflation weakened during the month, while output prices were suppressed by strong competition.

Tuesday, Markit Economics reported that the Greece Manufacturing Purchasing Managers' Index stood at a seasonally adjusted 47.3 in November. A reading above 50 indicates expansion, while one below 50 suggests contraction. This marks a six-month low in the PMI and signals at deteriorating business conditions for Greek manufacturers. (Market News Provided by RTTNews)