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Financial News: Greece Factory Growth Remains Strong In September

Greece Factory Growth Remains Strong In September

10/01/2018 - 05:35:00 (RTTNews)

(RTTNews) - Greece's manufacturing sector signaled further solid expansion in September, supported by sustained rises in output and new orders, survey data from IHS Markit showed Monday.

The headline Purchasing Managers' Index, or PMI, dropped to 53.6 in September from 53.9 in August. However, any reading above 50 indicates expansion in the sector.

New business growth remained solid in September, driven by stronger foreign and domestic demand, each of which buoyed business confidence.

The expansion in output levels also remained sharp, but the pace of the upturn eased to a five-month low.

Greater production requirements drove employment and purchasing upturns during the month.

On the price front, the rate of input price inflation softened for the third successive month, while charge inflation accelerated to a moderate pace.

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