According to the available data, the performance of the previous month is the worst of the last year, reflecting an unfavourable position, in which it has fallen by the manufacturing sector.
As reported by the Markit, the phenomena of recession in the manufacturing sector deteriorated during November, because of a sharp contraction in both output and new work.
The companies at the same time, reduced their purchasing activity in view of the increasing cost pressures, which have led to further reductions in the stocks of inputs.
At the same time, manufacturers continued to hire staff, despite the sharp deterioration in the levels of αδιεκπεÏαίωτων work.
Production
The data in November indicated a reduction in the production of the manufacturing sector in Greece for the third consecutive month. Moreover, the latest contraction was the sharpest recorded since July, while the companies linked the reduction of the production with weaker demand for English goods. Therefore, reported lower levels of stocks of finished products.
The decrease in production was a result of the severe contraction in the levels of new business during November. In addition, the decline was pronounced in the context of historical data, having accelerated from the previous month.
New orders
The reduction in overall new orders was recorded in wide scale in November, as the Greek manufacturers also saw the sharpest decline in new export orders recorded in the space of a year.
The limited number of new business received by the companies in the manufacturing sector in Greece gave them the ability to further reduce the work pending, as the levels αδιεκπεÏαίωτων work declined again during November. Moreover, the latest decrease extended the current trend, which started in July 2008.
Employment
Meanwhile, employment levels in the sector reached the limits of stagnation during November. The rate of job creation moderated to the weakest that has been made in the current period of six months which shall be recorded the trend of increasing levels of employment.
The companies of the manufacturing sector in Greece reported a further increase in the average burden cost during November. The latest increase was the sharpest recorded in the space of 16 months, while members of the panel have pointed out that increased prices of steel, thermoplastic materials and paper. On the contrary, the producers of goods have maintained the current policies of price reduction for the fifth consecutive month.
Input markets
The purchases of inputs by the Greeks manufacturers were reduced for the seventh consecutive month in November. The rate of decline has accelerated since October and it was intense in general. Consequently, the companies recorded a decline in the stock markets, the more pronounced that has been made in the space of nine months.
Finally, the average times for delivery of supplies faced by the Greek producers of goods has lengthened in November, at a faster rate than the average that has been recorded in the history of the survey.
Source
In the “intensive” manufacturing industry
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