ATHENS: Greek factory activity grew steadily in January as increased output and new orders from abroad led manufacturers to add workers at a solid pace, a survey showed on Friday.
Markit's Purchasing Managers' Index for manufacturing, which accounts for about 10 percent of the Greek economy, edged down to 53.7 in January from 53.8 in December but remained well above the 50 mark that indicates activity expansion.
Despite ongoing headwinds in global trade, the rate of growth in new export business picked up to a 12-month high in January.
"Contrasting with reports of global trade tensions being detrimental to export orders, Greek manufacturers registered a sharp expansion in foreign client demand," said Sian Jones, IHS Markit economist.
Overall, the survey showed that new orders expanded at a rate that was among the quickest since the start of 2018, driven by both domestic and foreign clients.
"Further gains in new orders placed strain on capacity, with employment rising at the joint-strongest pace since data collection began," Jones said.
On the price front, input price inflation eased to its slowest clip since August 2016, in January, with firms pointing to higher raw materials prices, particularly packaging and agricultural products.
On the downside, the survey showed more discounting of output prices, linked to efforts to attract more business.
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