Friday May 29, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek factory activity grows for second straight month in Feb - PMI

By Karolina Tagaris

Greek manufacturing activity expanded for the second consecutive month in February, boosted by a rise in output and new orders, a survey showed on Tuesday.

In January, Greek factory activity marked its first expansion since the country's debt problems came to light in 2009 and plunged the eurozone into a debt crisis.

Markit's purchasing managers' index for manufacturing, which accounts for about 10 percent of the Greek economy, rose fractionally to 51.3 in February from 51.2 in January, slightly above the 50 line dividing growth from contraction.

Greece has been stuck in a six-year, austerity-driven recession that has shrunk gross domestic product (GDP) by about a quarter and driven unemployment to record highs.

Athens and its international lenders expect the 183 billion euro economy to pull out of recession this year, projecting anemic GDP growth of 0.6 percent. The country's central bank sees growth of 0.5 percent.

"Solid growth in output and new orders meant that headline PMI was in expansion territory for a second consecutive month in February, the first back-to-back readings above 50.0 for almost five-and-a-half years," Markit economist Phil Smith said.

Export orders were also up in a sign of improved competitiveness, he said.

Production at manufacturers rose for the fourth successive month in February and at the fastest rate since August 2008, the survey showed, while new orders rose for the third time in as many months and at the most marked pace since May 2008.

However, manufacturers continued to shed jobs in February despite a solid rise in demand. The pace of job shedding was slightly faster than the previous month and businesses often left voluntarily vacated positions unfilled, Markit said.

Greece's unemployment rate is more than twice the average for the eurozone, hitting a record 28 percent in November. [Reuters]

ekathimerini.com , Tuesday March 4, 2014 (14:54)  
Greek credit contraction amounted to 2.4 pct in April
Export-oriented firms benefit from euro rate
VAT hike would put several Athens hotels at risk
ATHEX: May ends with a rise of 0.3 pct
Greece, creditors seek breakthrough as clock runs down
Greece and its lenders enter a decisive weekend of negotiations in a bid to agree on a package of cuts and reforms that would unlock another 7.2 billion euros and allow Athens to keep meetin...
Coast Guard officials linked to migrant traffickers
An investigation by the internal affairs department of the Greek Police (ELAS) has linked the leadership of the country’s Coast Guard as well as officers of the police and of the National In...
Inside News
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
SOCCER
AEK Athens returns to top league after financial collapse
Greek club AEK Athens has just returned to the country's top soccer league, two years after financial collapse sent it to a lower league. One of the country's largest clubs, AEK sealed its s...
Inside Sports
COMMENTARY
Zenobia, Barbara, Christine and the general’s daughter
ATHENS – Lovely Palmyra has fallen to the zombie horde and its people are being slaughtered as the ancient city awaits its fate. It is Friday, May 22, 2015, and from my window I see the end-...
INTERVIEW
The eurozone’s ‘ambiguous’ architecture
“That’s not something you’re supposed to say in public, right?” In his humble way, Thomas Sargent, Nobel Prize winner in Economics, tries to avoid the question posed to him by Kathimerini re...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek credit contraction amounted to 2.4 pct in April
2. Export-oriented firms benefit from euro rate
3. VAT hike would put several Athens hotels at risk
4. ATHEX: May ends with a rise of 0.3 pct
5. Greece, creditors seek breakthrough as clock runs down
6. Coast Guard officials linked to migrant traffickers
more news
Today
This Week
1. Greece creditors say no deal near as G-7 frustration vented
2. Only Greece can end its miserable 'Groundhog Day'
3. Next Greek aid program isn’t on table yet, says Moscovici
4. 12 Russians injured in lightning strike at ruins on Crete
5. Some blame EU Commission for Greek obstinacy in debt talks
6. The eurozone’s ‘ambiguous’ architecture
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Some 300 mln left banks on Tuesday
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Romantic notions meet reality
6. Tsipras faces down radicals within SYRIZA over terms of deal
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.