Greek PMI fell in March

Greece's Purchasing Managers Index (PMI) fell to 42.1 points in March from 43 in February, remaining in a shrinking course for the 43rd month in a row, Markit said on Monday.
Production in Greek manufacturing units fell significantly in March, hit by a decline in production in intermediate goods and capital goods, reflecting lower levels of new orders. Demand -both from domestic and foreign markets- also fell although the decline rate of new orders was the slowest in almost 12 months.
Employment levels fell at a more rapid rate in March, while enterprises in the construction sector continued cutting their pending works. Supply levels fell in March, although at the slowest pace since September 2012, while average factory prices fell significantly hit by intense competition in domestic markets.
The PMI is a composite index measuring business activity in the manufacturing sector. Readings above 50 indicate a growing sector, while readings below 50 a shrinking sector.