Greek PMI manufacturing index shows growth after 3.5 years

Greek PMI manufacturing index shows growth after 3.5 years

 

Review Hari Stefanatos

The greek PMI manufacturing index was 51.2 in January compared to 49.6 in December, indicating growth for the first time since August 2009, or 53 months. The point that separates growth from shrinkage is 50 index points.

The reasons that have led the index to pass the 50 point mark for the first time in 3.5 years, according to Markit, are both a strong increase in the production and the new orders received. The main reason for the increased orders was an increase in the domestic demand, although a small increase in exportation was also found to contribute.

Markit reports that the companies continue to reduce prices in order to increase their sales resulting in the deflation of prices.

(Source protothema)