New export orders received from abroad rose slightly in May, for the first time since August 2010, while Greek manufacturers cut their workforce and inventories at an increasing rate. Pending works fell at the fastest rate in four months, while Greek enterprises were forced to cut their prices for the third consecutive month.
Buying activity fell strongly in May, along with inventories.
The purchasing managers’ index measures business activity in the manufacturing sector. Readings above 50 indicate a growing sector, while readings below 50 a shrinking sector.