ECONOMY

Secondary sector maintains its growth

The manufacturing sector continued to forge ahead last month according to puchasing managers’ index (PMI) figures released yesterday. The Markit Group’s manufacturing PMI stayed above the neutral ground of 50 to stand at 51.6, marking an improvement over last month. This was the 19th consecutive month that the index displayed a positive reading, although it was the lowest rate this year since January. The recent improvement in operating conditions has been supported by a constant increase in production. Research data showed that the growth in production was strengthened by a satisfactory flow of new orders both from the domestic market and from abroad, as well as by efforts to clear a backlog of unfilled orders. However, the rate of production growth has lagged considerably since June and is at its lowest level since January 2007.