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Financial News: Greece Manufacturing Growth Improves In August

Greece Manufacturing Growth Improves In August

09/03/2018 - 04:32:00 (RTTNews)

(RTTNews) - Greece's manufacturing growth improved in August, underpinned by solid expansions in output and new orders, survey data from IHS Markit showed Monday.

The headline Purchasing Managers' Index, or PMI, rose to a three-month high of 53.9 in August from 53.5 in July. Any reading above 50 indicates expansion in the sector.

Among components, output grew at the fastest pace in five months in August and growth in new business quickened at a solid pace. Subsequently, the rate of job creation accelerated.

On the price front, the rate of input cost inflation softened to a three-month low and charges only rose marginally.

Looking ahead, panellists were confident of a rise in output over the coming year, driven by stronger domestic and foreign demand, Sian Jones, Economist at IHS Markit, said.

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