Tuesday, February 1, 2011

Greece Manufacturing PMI Sinks To 7-Month Low

 The Greek manufacturing industry started the new year on an even shakier footing than it ended 2010, according to a new survey.

The Markit manufacturing purchasing managers' index fell to 42.8 in January from 43.1 in the previous month, as contractions
in output, employment and input stocks all accelerated.

That represents the lowest PMI score recorded since July last year. A reading below 50 indicates contraction.

Incoming new work to Greek factories fell for the 17th successive month in January, with panelists citing difficult economic conditions, low market demand and high stock levels at customers as negative factors.

Meanwhile, input price inflation faced by factories picked up to a 30-month high in January, putting upward pressure on manufacturing charges.





source: RTTNews