Greece Manufacturing Growth Improves In February

(RTTNews) - Greece's factory activity logged a further strong upturn in February as output and new orders grew at faster rates, survey data from S&P Global showed on Monday.

The manufacturing Purchasing Managers' Index rose to 54.4 in February from 54.2 in January. A reading above 50.0 indicates expansion.

New orders grew at the quickest pace in six months, linked to stronger demand conditions along with successful advertising initiatives and greater construction activity. Meanwhile, foreign demand was weaker, with new export orders falling for the first time in three months.

In line with higher new business, firms increased production levels in February, and the latest rate of growth was the fastest in eleven months. As a result, they scaled up workforce numbers and purchasing activity, though the rate of job creation eased to a 5-month low and led to a fresh emergence of capacity pressure.

On the price front, input price inflation accelerated to a nearly one-year high, led by higher supplier prices, especially for metals, and transportation charges. Nonetheless, selling prices rose at a softer rate.