Manufacturing activity in Greece remained unchanged in November, despite the reduction in new orders and employment, survey data from Markit Economics showed Monday.
The seasonally adjusted manufacturing purchasing mangers' index rose to 49.1 in November from 48.8 in October. Any reading below 50 indicates contraction in the sector. The latest score was the highest since August.
Manufacturing output remained stable during the month after declining in the previous two months, support by the continued growth in consumer goods production.
New orders dropped for the third successive month. Export orders also weakened for the first time in seven months.
Due to lower workloads, manufacturers reduced their employment levels in November, but the rate of job shedding was only marginal. Factories have been cutting jobs since June.
On the price front, producer prices reflected a strong and accelerated decline in November, the fastest in three months. Companies attributed lower charges due to competitive pressures. Meanwhile, input price inflation quickened for the second consecutive month led by higher raw material costs.
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