BUSINESS

PMI points to recovery in manufacturing

TAGS: Economy

Greece’s manufacturing sector appears to be on the verge of growth, as the benchmark Purchasing Managers Index (PMI) closed in August just above the zero-growth rate of 50 points, at 50.4 points.

The index, compiled by Markit, was bolstered by new orders, which climbed for a second month in succession. The rise seen in orders last month was the strongest recorded since July 2014.

There was also an improvement in the construction sector, as the survey showed a rise in work levels for Greek constructors, putting an end to a period of constant shrinking that started two years ago.

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