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Greek manufacturing activity shows growth for first time since 2009

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Greek manufacturing activity shows growth for first time since 2009

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Greek manufacturing received a boost with new figures showing its first expansion since the country’s debt crisis came to light in 2009.

Markit’s purchasing managers’ index for manufacturing which accounts for about 10 percent of the Greek economy rose to 51.2 in January. The 50 mark divides growth from contraction in the index.

The figures come on the back of data showing Greek retails sales rose in November for the first time since April 2010 while construction activity grew in October for the first time in two years.

But analysts said it was too early to say if there has been a turning point. “We need to be cautious,” was the message from one.