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Financial News: Greece Manufacturing Growth Quickest Since Jun 2008

Greece Manufacturing Growth Quickest Since Jun 2008

10/02/2017 - 06:28:00 (RTTNews)

(RTTNews) - Greece's manufacturing activity expanded at the sharpest pace in more than nine years in September, survey figures from IHS Markit showed Monday.

The seasonally adjusted Purchasing Managers' Index, or PMI, climbed to 52.8 in September from 52.2 in August. Any reading above 50 indicates expansion in the sector.

Moreover, the latest figure highlighted the fourth consecutive improvement and the sharpest since June 2008.

New orders grew at the fastest rate in over three-and-a-half years in September. Meanwhile, new export orders dropped marginally.

Buoyed by robust client demand, manufacturers lifted their output further in September and the rate of growth was the most marked in over nine years.

Consequently, manufacturing employment rose for the fifth successive month. On the price front, charge inflation weakened despite a sharper increase in average cost burdens.

Looking ahead, manufacturers remained optimistic that output will increase over the coming 12-months.

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