Greece manufacturing downturn continues at marked pace

From markiteconomics.com

October data showed another steep decrease in the level of manufacturing output in Greece, which reflected not only lower demand in the domestic economy but also a further marked drop in export orders. Employment meanwhile fell at a faster rate, with firms possessing an increasing degree of spare capacity. Developments on the prices front were also unfavourable for firms in the sector, with a further rise in input prices contrasting with lower charges. The Purchasing Managers’ Index (PMI) – a composite indicator designed to provide a singlefigure snapshot of the performance of the manufacturing economy – posted ... (full story)