Jul
02
Greek Slump Deepens as Fraught Debt Talks Destabilize Demand
ByGreece’s economic slump is deepening, with manufacturing suffering its worst quarter in two years and the outlook for jobs deteriorating.
That’s the picture painted in a monthly report from Markit Economics, published hours after Greece missed a loan repayment to the International Monetary Fund, tipping the country closer to a potential exit from the euro-area currency zone.
Markit said its factory Purchasing Managers’ Index fell to 46.9 in June from 48 in May, signalling a 10th month of contraction. Output plunged the most in two years, while demand and employment also dropped. Among the euro-area nations tracked by Markit, all registered growth last month apart from Greece…
Greek Slump Deepens as Fraught Debt Talks Destabilize Demand
