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Greece’s manufacturing activity increased at a softer pace in July, survey results from IHS Markit showed on Monday.

The manufacturing Purchasing Managers’ Index rose to 57.4 in July from 58.6 in June. A reading above 50.0 indicates expansion in the sector.

Production expanded in July and new order growth slowed from the previous month. New sales increased and new export orders rose solidly.

Backlogs of work rose at the fastest rate since the survey began in November 2002 and employment level increased.

Input prices increased in July, while output charge inflation eased to the lowest in three months.

The degree of optimism eased to the lowest in four months.

“Nevertheless, our current forecast expects industrial production to rise 6.2 percent on the year in 2021 as the sector continues the path towards recovery,” Sian Jones, senior economist at IHS Markit, said.


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