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Greek Mfg. Pmi Decrease the Contraction Pace in may at 43.1


  • Greek PMI was up at 43.1 in May from 40.7, as pace of contraction was slowed down to the most in eight month
  • Output and new orders declined at their slowest rates in 10 and eight months
  •  Backlogs of work were down sharply in May  despite reducing working hours,

Quotes

   "Despite rising to an eight-month high, the headline PMI remained deep inside contraction territory during May as output, new orders, stocks and employment all continued to be cut at rapid rates," 

  "Panelists again attributed the dismal picture to ongoing recession and political instability, which are leading to uncertainty and undermining demand. The adverse effects on total new order books within Greece were further exacerbated by a plunge in sales from abroad,"

Markit Senior Economist Paul Smith 

Publicēts: 2012-06-01 09:09:00 UTC+00


See also: Current support and resistance levels
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May 22 at 20:14 UTC