Greece’s manufacturing activity expanded for the first time in this year, though slightly, survey results from Markit Economics showed Friday.
The seasonally adjusted Purchasing Managers’ Index, or PMI, rose to 50.4 in June from 48.4 in the previous month.
Any reading above 50 indicates expansion, while a score below 50 suggests contraction in the sector.
Both output and employment gained in June. Although modest, the rate of expansion in payrolls was the best recorded by the survey in nearly nine years.
In contrast, new orders fell for the twenty-second consecutive month in June amid reports of a touch economic climate. New export orders also dropped, reflective of a lack of demand and strikes at the major ports of Piraeus and Thessaloniki.
On the price front, input price inflation accelerated to a ten-month high in June. Meanwhile, over five years of output price deflation came to an end during June, as prices showed no variations.
The material has been provided by InstaForex Company – www.instaforex.com