Greek Purchasing Managers Still Pessimistic About The Economy

Greece PMI
Greece PMI
Macro Watch: According to the recent Purchasing Manager Indicator (PMI), manufacturing in Greece shows minor signs of improvement. The PMI hit 41.7 points in January 2013 suggesting a slower rate of contraction in the manufacturing sector. The PMI increased by 1.7% year-on-year after a 1.4% decrease in December 2012. However, the increase in the PMI may not necessarily reflect improvements in current business conditions in the Greek manufacturing sector, according to the survey, as the PMI declined for 13 consecutive months from September 2011 to September 2012. The PMI has been declining since the outbreak of the financial crisis in 2008. The rate of decline in New Export Orders was 11.5% year-on-year in January, while expectations regarding the level of output registered an 8% increase. Greece PMI The Industrial Production Index for January declined to 66.3, a 4.8% decrease compared to the same period last year. The production of capital goods fell by 18% year on year. Meanwhile, the production of non-durable consumer goods fell by only 0.85%, compared to January 2012. Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. By Delyan Kirilov in Bulgaria - CEIC Analyst Back to Blog
29th March 2013 Greek Purchasing Managers Still Pessimistic About The Economy

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