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Greek PMI improved slightly in November

Δημοσίευση 2 Δεκεμβρίου 2010, 10:32 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
Greek PMI improved slightly  in November
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Greece's Purchasing Managers' Index (PMI) grew slightly in November to 43.9 points from 43.6 points in October, highlighting a worsening of operating conditions in the Greek manufacturing sector.

Greece's Purchasing Managers' Index (PMI) grew slightly in November to 43.9 points from 43.6 points in October, highlighting a worsening of operating conditions in the Greek manufacturing sector.

Incoming new orders fell abruptly in November, reflecting low demand and strong competition in the domestic market. New orders from abroad remained largely unchanged in the month. Greek manufacturers further cut back in production, employment and purchasing activity as a result of lower new orders. Cost-cutting efforts led to a reduction in supply inventories and ready products' inventories. Greek manufacturers also suffered from an accelerating rate of import price increases in November, the highest since May, reflecting higher raw material prices.

The PMI index measures business activity in the manufacturing sector. Readings above 50 indicate a growing sector, while readings below 50 a shrinking sector.