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Financial News: Greece Manufacturing Growth At 9-1/2 Year High

Greece Manufacturing Growth At 9-1/2 Year High

01/02/2018 - 04:57:00 (RTTNews)

(RTTNews) - Business conditions in the Greek manufacturing sector improved at the fastest pace in nine-and-a-half years in December, survey figures from IHS Markit showed Tuesday.

The seasonally adjusted Purchasing Managers' Index, or PMI, climbed to 53.1 in December from 52.2 in November. Any reading above 50 indicates expansion in the sector.

The growth was driven by further marked rises in new orders, in both domestic and foreign markets. New orders rose at the sharpest pace since June 2008.

As a result, firms raised their workforce numbers for the eighth successive month.

On the price front, input price inflation broadly unchanged in December, while selling prices declined at a faster pace.

Finally, business confidence hit a five-and-a-half year high in December.

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