Tuesday, 5 May 2015

Greek recession looms as PMI signals steepest downturn for almost two years

Greece shows further signs of having slid back into recession, adding to indications that the economy is suffering as tensions mount ahead of a scheduled €1bn debt repayment to the IMF on 12 May. The Markit Manufacturing PMI fell from 48.9 in March to 46.5 in April, signalling an eighth successive monthly deterioration of business conditions and the steepest rate of decline since June 2013.