ECONOMY

Markit Manufacturing Purchasing Managers’ Index…

Greece’s manufacturing industry weakened further in May, with output, orders and employment contracting at a faster pace. The Markit Manufacturing Purchasing Managers’ Index (PMI) for Greece fell to 41.8 points in May, a 13-month low, and well below the 50-point mark that separates contraction from growth, Reuters reported yesterday. Incoming new business fell for the ninth straight month in May, more steeply than the decline in new export orders, and was attributed to weak demand amid worsening economic conditions.