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Financial News: Greece Manufacturing Growth Strengthens In November

Greece Manufacturing Growth Strengthens In November

12/02/2019 - 06:32:00 (RTTNews)

(RTTNews) - Greece's manufacturing sector growth accelerated in November on sharper expansions in output and new orders, survey results from IHS Markit showed Monday.

The manufacturing Purchasing Managers' Index rose to 54.1 in November from 53.5 in October. The rate of growth was the sharpest seen over the last decade.

A key factor behind the improvement was a quicker upturn in production, reflecting greater domestic and foreign client demand.

Manufacturing firms in Greece noted a faster rise in new business, largely due to new client acquisitions and the launch of new product lines. Foreign client demand improved to a six-month high.

Manufacturers signaled a renewed increase in factory gate charges in November with the rate of inflation fastest for over a year. Meanwhile, input price inflation reached its fastest since April.

Greek manufacturers expanded their workforce numbers at a steep pace that was the quickest for seven months.

Meanwhile, the degree of business confidence improved in November, with firms continuing to expect output to rise over the coming year.

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