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Greece manufacturing sector grows at fastest pace since June 2000

Staff Writer | March 2, 2018
Greek manufacturing sector hit 17-and-a-half year peak in February, with rates of expansion in total new orders, output and purchasing activity reaching post-global financial crisis highs, IHS Markit said, adding that the rate of job creation was the highest on the record.
Greek manufacturing
Greece   IHS Markit
Also, business confidence was the strongest since data collection began for the series over five-and-a-half years ago.

“Business conditions have now improved for nine consecutive months, by far the longest sequence since the global financial crisis, providing further hope that the economy is finally on a path to recovery, in the near-term at least,” Alex Gill economist at Markit said,

“Perhaps the most encouraging trend in the latest data was a sharp rise in total client demand, indeed the sharpest in over a decade,” added.

Markit's Purchasing Managers' Index ( PMI) for manufacturing stood at 56.1 in February, up from 55.2 in January, above 50.0 no-change threshold for the ninth straight month.


 

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