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Markit Economics released its final manufacturing purchasing managers' index (PMI) for Greece on Monday. Greece's manufacturing purchasing managers' index (PMI) dropped to 30.2 in July from 46.9 in June.
The decline was driven by falls in the capital goods sector and in the production of intermediate and consumer goods.
"Manufacturing output collapsed in July as the debt crisis came to a head. Factories faced a record drop in new orders and were often unable to acquire the inputs they needed, particularly from abroad, as bank closures and capital restrictions badly hampered normal business activity," Markit economist Phil Smith said.
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