Greece: PMI returns to contraction territory in September
October 1, 2014
The manufacturing Purchasing Managers’ Index (PMI) fell from 50.1 in August to 48.4 in September, according to a release provided by HSBC in collaboration with Markit. The PMI fell back below the 50-threshold that indicates contraction territory, after having improved in August. September’s reading marked the lowest result since October 2013.
According to HSBC, the deterioration in September’s PMI reflected declines in both manufacturing output and new orders, which led to further job losses and lower purchase prices in the sector.
Author: Cecilia Simkievich, Economist