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Financial News: Greece Factory Growth Remains Stable In July

Greece Factory Growth Remains Stable In July

08/01/2018 - 07:27:00 (RTTNews)

(RTTNews) - Greece's manufacturing activity expanded at a steady pace in July, survey data from IHS Markit showed Wednesday.

The headline Purchasing Managers' Index, or PMI, came in at 53.5 in July, unchanged from June. However, any reading above 50 indicates expansion in the sector.

Among components, growth in output and new orders eased, partly reflecting a weaker expansion in new export orders.

Despite this, the rate of job creation accelerated from the prior month and was marked overall.

On the price front, input prices continued to rise sharply in July, driven by higher raw material costs.

Greek manufacturers maintained a firmly optimistic outlook with regard to output growth over the coming year.

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