Greece: PMI jumps back into expansion territory in August
September 1, 2014
The Markit manufacturing Purchasing Managers’ Index (PMI) rose from 48.7 in July to 50.1 in August, which represented the highest level in three months. As a result, the index is now just barely above the 50-threshold, which indicates expansion in the manufacturing sector.
According to Markit, manufacturing output in August was boosted by a lift in new orders. However, “the recovery remains on a soft footing and employment levels in the sector continued to slide.” In addition, “another factor that remains detrimental to job creation prospects is the constant pressure on profitability from falling output prices.”
Author: Dirina Mançellari, Senior Economist