Greek manufacturing shrinks in July, foreign orders weaken: PMI

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Greek manufacturing activity contracted slightly faster in July, with output and new orders declining as uncertainty over the novel coronavirus pandemic weighed on domestic and foreign client demand, a survey showed on Monday.

IHS Markit’s Purchasing Managers’ Index for manufacturing, which accounts for about 10% of the Greek economy, fell to 48.6 in July from 49.4 in June. Readings above 50.0 indicate that activity is growing.

Producers continued to report difficulties stemming from the pandemic, Jones said, noting that tourism - a key source of income for Greece - has been weak and some firms have continued to close. Reflecting the downturn in client demand, Greek manufacturers were less confident on output over the coming year, with optimism dropping notably from June’s four-month high, weighed by uncertainty due to the COVID-19 pandemic.

 

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manufacturing? greece?

KillBezosAgain KillSorosAgain

Greeks have any manifucturing industry?

Why the hell is Reuters retweeting some random pro-life, All lives matter account? I guess we know what side you’re on.

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