Greek manufacturing slide enters 41st month in Jan: PMI

Page last updated at 03:41 GMT, Friday, February 1, 2013 - 08:41 EST

Reuters:

Markit's purchasing managers' index (PMI) for Greek manufacturing, which accounts for roughly 15 percent of the economy, ticked up to 41.7 points in January from 41.4 in December.

The index has held below the 50 point mark dividing growth from contraction ever since September 2009, just before the country's fiscal problems came to light, triggering a regionwide debt crisis and plunging its economy into deep recession.

The fall in new orders in January came close to being the fastest in the survey's history, dating back to 1999. But the decline in export orders slowed, showing that weak domestic demand was the main drag on the sector.

Read the whole story: Reuters