2019.11.0111:58:00UTC+00Greece Manufacturing Growth At 4-month Low

Greece's manufacturing growth slowed, though marginally, to the lowest level in four months in October, amid weaker expansion in output and new orders, data from IHS Markit showed on Friday.

The Manufacturing purchasing managers' index, or PMI, fell to 53.5 in October from 53.6 in September. Any reading above 50 indicates an expansion in the sector.

The rate of production growth decreased for the second month in a row in October, but remained robust, while new orders increased at the strongest pace. The total new orders rose at a slower rate.

The rate of job creation rose at the fastest pace since April as firms eased pressure on capacity though production requirements were higher. The backlogs of work were reduced marginally at the slowest rate for four months.

On the price front, input costs rose in October, while firms cut their output charges for the first time in four months to stay competitive.

Buying activity increased due to greater new order volumes, with pre- and post-production inventories depleted further as firms fulfilled orders from stocks.