First good news: PMI manufacturing index shows growth after 5.5 years
First good news: PMI manufacturing index shows growth after 5.5 years
The index has exceeded 50 points, a level that separates shrinkage from growth
The Greek PMI manufacturing index stood at 51.2 in January from 49.6 in December. The index shows growth for the first time in 53 months, from August 2009.
According to Markit, the strong and growing increase in both the production and new orders led the index to a high point in the last 5.5 years, and perhaps the most important thing is that it passed the threshold of 50 points, a level that separates shrinkage from growth. This development was aided by a small increase in export orders, although figures suggest that the main reason was the domestic demand.
Deflationary pressures is still going strong as Markit notes, with companies cutting their prices again in an effort to increase their sales.
According to Markit, the strong and growing increase in both the production and new orders led the index to a high point in the last 5.5 years, and perhaps the most important thing is that it passed the threshold of 50 points, a level that separates shrinkage from growth. This development was aided by a small increase in export orders, although figures suggest that the main reason was the domestic demand.
Deflationary pressures is still going strong as Markit notes, with companies cutting their prices again in an effort to increase their sales.
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