Greece: PMI falls in June
July 1, 2015
The Markit manufacturing Purchasing Managers’ Index (PMI) fell from 48.0 in May to 46.9 in June. As a result, the index remains further below the 50-threshold that separates contraction from expansion in the manufacturing sector.
According to Markit, June’s fall came on the back of the sharpest contraction in production recorded in two years. New orders decreased sharply because of weak demand. In addition, employment fell, however, at a modest pace. Regarding prices, cost inflation eased from May’s multi-year high. Markit added, “with negotiations over a debt deal ongoing in June demand was subdued, leading new orders – both from domestic and international clients – to fall even faster than May.”