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Financial News: Greece Manufacturing Sector Expands For Fifth Month

Greece Manufacturing Sector Expands For Fifth Month

11/01/2017 - 05:48:00 (RTTNews)

(RTTNews) - Greece's manufacturing activity expanded for the fifth successive month in October, though the rate of growth was the weakest in three months, survey data from IHS Markit showed Wednesday.

The seasonally adjusted Purchasing Managers' Index, or PMI, dropped to 52.1 in October from 52.8 in September. However, any reading above 50 indicates expansion in the sector.

The overall growth in October was underpinned by strong demand in both domestic and export markets, which led to rises in purchasing activity, employment and output.

On the price front, input price inflation accelerated in October, driven by higher raw material costs.

Meanwhile, business confidence improved to a three-and-a-half year high.

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