Greece Manufacturing Sector Expands Slightly In December

(RTTNews) - Greece manufacturing activity expanded for the first time in sixteen months in December, survey figures from Markit Economics showed Monday.

The seasonally adjusted purchasing managers' index, or PMI, rose to 50.2 in December from 48.1 in November. Any reading above 50 indicates expansion in the sector.

Manufacturing output grew for the first time in one year in December. Moreover, the rate of expansion was the sharpest since August 2014.

At the same time, new orders continued to fall in December. New export orders also decreased, yet the rate of contraction was the weakest in 13 months.

Manufacturers raised their staffing levels modestly in December, following a eight-month sequence of job cuts.

On the price front, input price inflation picked up to a three-month high in December. In contrast, firms lowered their selling prices again due to competitive pressures in the sector.