Greek PMI rose to 43.3 points in Sept

Samuel Agass, a Markit economist responsible for the Greek index, commenting on the report said: "The September data showed that Greek manufacturers faced the hard consequences of continuing capital controls imposed by the government. The latest data showed a further contraction of production, with the number of workers falling on a monthly basis -beginning from April- while pending works fell again".

More analytically, manufacturing production fell for the ninth successive month in September, although at the slowest pace since June. Several companies attributed this development to the imposition of capital controls and reduced demand. The volume of new works in Greek manufacturers fell in September, continuing a trend which began in September 2014. Purchasing activity by the Greek manufacturers fell in September with supply inventories reducing rapidly, due to a lack of new orders.

The volume of pending works shrank in September, while the number of workers continued falling in the month for the sixth successive month. Inflow average prices grew in September along with outflow prices reflecting strong competition in the market.

The PMI index measures business activity in the manufacturing sector. Readings above 50 indicate a growing sector while readings below 50 a shrinking sector.