Greek Manufacturing Slumps Again In December

(RTTNews) - Greek manufacturing activity fell at a steeper rate in December reflecting poor economic and financial conditions and bad weather, survey data showed on Monday.

The Markit manufacturing purchasing managers' index came in at a seasonally adjusted 43.1, down from 43.9 in November. Anything below 50 indicates contraction.

Incoming new work into Greek factories shrank at the fastest pace in 21 months in December as both domestic and foreign demand remained poor.

Manufacturing output fell at a substantial rate in December, although a sharper depletion of backlogs prevented output from falling as steeply as new work.