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Greece manufacturing activity logged the strongest rate of expansion in seventeen-and-a-half years in February, survey figures from IHS Markit showed Thursday.

The seasonally adjusted Purchasing Managers' Index, or PMI, climbed to 56.1 in February from 55.2 in January. Any reading above 50 indicates expansion in the sector.

Among components, rates of growth in new orders, output and purchasing activity reached post-global financial crisis highs.

Firms expanded their workforce numbers at the sharpest pace since data collection began in May 1999.

On the price front, input price inflation remained sharp in February, driven by higher raw material costs. As a result, average selling prices rose for the second successive month.

Finally, business confidence improved for the third month in a row to hit a record high in February.