Greece’s manufacturing activity stabilized in January, survey results from IHS Markit showed on Monday.
The manufacturing Purchasing Managers’ Index increased to 50.0 in January from 46.9 in December. A reading of 50.0 indicates neutral level of activity in the sector.
Output continued to contract in January, albeit at a softer pace. New order inflow declined further, while new business declined at a softer pace for the second straight month.
Cost burden increased further at the steepest rate since July 2008, with the rate of inflation rising for the sixth straight month. Output charges increased.
Input purchasing continued to decline amid a fall in production requirements. Backlogs of work declined, while employment rose for the first time in four months.
Business confidence strengthened in January on hopes of the Covid-19 vaccine roll-out and greater client demand. The degree of positive sentiment was the highest since February 2020.