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- Greece’s final manufacturing PMI drops to 46.9 in June
Greece’s final manufacturing PMI drops to 46.9 in June
Markit Economics released its final manufacturing purchasing managers' index (PMI) for Greec on Wednesday. Greece's manufacturing purchasing managers' index (PMI) dropped to 46.9 in June from 48.0 in May. It was tenth consecutive decline.
The decline was driven by falls in output and new orders.
"The accelerated contraction in goods production in June ended the worst quarter for the Greek manufacturing sector for two years. With negotiations over a debt deal ongoing in June demand was subdued, leading new orders - both from domestic and international clients - to fall even faster than May," Markit economist Phil Smith said.
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