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European Economic News

Greece Manufacturing Sector Contracts In September

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Greece's manufacturing activity deteriorated in September, after expanding in the previous month, survey data from IHS Markit showed Monday.

The seasonally adjusted Purchasing Managers' Index, or PMI, fell to 49.2 in September from 50.4 in August.

Any reading below 50 suggests contraction, while a score above 50 indicates expansion in the sector.

Both output and new orders declined in September. Despite this, firms continued to raise their payroll numbers during the month. However, the rate of job creation eased to a four-month low.

On the price front, cost burdens rose for the sixth consecutive month in September. Meanwhile, manufacturers reduced their selling prices on greater competition in the sector.

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