Greece's manufacturing activity deteriorated further in May, though the rate of growth eased from the previous month, survey figures from IHS Markit showed Thursday.
The seasonally adjusted Purchasing Managers' Index, or PMI, rose to 49.6 in May from 48.2 in April. However, any reading below 50 suggests contraction in the sector.
Among components, output and new orders continued to decline in May, though at weaker rates. At the same time, employment rose for the first time in six months.
On the price front, input costs increased further in May, but at the weakest rate since last November. On the other side, manufacturers lowered their average selling prices amid strong competitive pressures and weak underlying demand.
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