Tuesday March 31, 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)  
Bank stocks post huge losses in Q1
Greek deposit outflows said to slow to 3 bln euros
Greece opposes EUs sanctions on Russia, Tsipras tells Tass
Russian firms to bid for Greek oil and gas drilling tender, says energy minister
Trial of suspects in Salamina torture case starts
The trial of four men accused of torturing an Egyptian bakery worker on the island of Salamina in the summer of 2012 is to resume on April 30 after the victim, Waleed Taleb, and several witn...
Turkish seismic vessel leaves Cyprus EEZ
The Turkish research vessel Barbaros, whose presence within Cypruss exclusive economic zone (EEZ)prompted Nicosia to suspend peace talks in October, was on Tuesday reported to be sailing of...
Inside News
SOCCER
Cyprus soccer eyes reunion after 60-year divorce
Turkish Cypriot soccer officials on Monday vowed to press ahead with attempts to reunite with the Cyprus Football Association, (CFA), triggering a political storm on the ethnically-split isl...
SOCCER
Three Greek internationals injured in Budapest car crash
Three Greek international soccer players were slightly injured on Monday in a car crash as they travelled by taxi to Budapest airport following Greece's Euro 2016 qualifying goalless draw ag...
Inside Sports
COMMENTARY
Amateur antics or overstepping the mark?
There are 149 plus two reasons why those who have been watching SYRIZAs progress since its start cannot and never will be able to stomach the leftist partys coalition with Independent Gree...
EDITORIAL
A pointless debate
Mondays parliamentary debate between the countrys political leaders left a lot to be desired. There was no information whatsoever about the coalition governments proposed reforms or the p...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Bank stocks post huge losses in Q1
2. Trial of suspects in Salamina torture case starts
3. Turkish seismic vessel leaves Cyprus EEZ
4. Mother of Conspiracy convict released, girlfriend remains in custody
5. Greek museums and sites to stay open til 7 p.m.
6. Vatopedi trial adjourned for second time
more news
Today
This Week
1. Amateur antics or overstepping the mark?
2. Parliamentary speaker prompts ND walkout, anger from PASOK, Potami
3. Greece, EU/IMF lenders end round of technical talks without deal
4. Investment guru Mark Mobius rules out Grexit, advises sell-offs
5. Greek government proposes measures worth 3.7 bln
6. A pointless debate
Today
This Week
1. Next Monday is D-Day for state funds
2. Eurogroup unlikely to be held soon to discuss Greek reforms
3. Moscow expects progress from Tsipras visit
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Greece optimistic on deal with euro area next week
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.