Greek PMI rose to 48.8 points in October

Greece΄s Purchasing Managers΄ Index (PMI) rose to 48.8 points in October, from 48.4 in September, remaining below the 50-point level for the fourth time in five months according to Markit.

PMI showed that production in Greek manufacturing units fell again in October, the third decline in the last four months, although the rate of decline was minimal, while new orders fell further at a slower rate.

Pending works in Greek factories fell further in October, remaining on a declining trend since July 2008. This development led manufacturing companies to reduce their workforce in October, extending this trend for the fifth successive month.