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Downturn In Greece Manufacturing Continues


Greece's manufacturing sector registered a further notable deterioration in December, survey from Markit Economics showed Wednesday.



The Purchasing Managers' Index fell to 41.4 from 41.8 in November. A reading below 50 indicates contraction in the manufacturing sector.



Production at Greek factories decreased at a sharp and accelerated rate in December, reflecting a further reduction in the receipt of new work in December.



Employment at Greek factories decreased markedly during December. Average purchasing costs rose solidly. Nevertheless, prices charged by Greek manufacturers continued to decrease.





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2013-1-2 13:42