Greek factory activity picks up slightly

Greek factory activity picked up slightly in November for the 10th month in a row amid rising production volumes, but subdued export sales held back order books, a survey showed. 

S&P Global's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about 10% of Greece's economy, rose marginally to 50.9 in November from 50.3 in October, the highest since September. Readings above 50 indicate growth in activity. 

"November data indicated a positive month for the Greek manufacturing sector and business conditions remained more resilient than seen in many other parts of the euro area," said Tim Moore, economics director at S&P Global Market Intelligence. 

Total new orders were broadly stable in November, although new export orders dropped for a third month. "Goods producers often commented on weaker spending among clients in major export markets,...