Greece: PMI inches up in November
December 1, 2014
The Markit manufacturing Purchasing Managers’ Index (PMI) inched up from 48.8 in October to 49.1 in November. Despite the slight increase, the PMI remains below the 50-threshold that separates contraction from expansion in the manufacturing sector.
According to Markit, the moderate increase in November mainly reflected a stabilization of output, which had recorded declines in the previous two months. An improvement in consumer goods production was behind the stabilization of output. Conversely, new exports orders contracted for the first time in seven months, employment declined for the sixth consecutive month, and output prices dropped at the fastest pace in three months.
Author: Cecilia Simkievich, Economist