Price cut helps foreign orders grow

Exports continue to represent a lifeline for Greek enterprises and the national economy, even if they have to resort to price cuts to maintain demand.

Against an adverse global backdrop, with the World Trade Organization expecting international trade growth to slow to 3.7 percent year-on-year in 2019 from an estimated 3.9 percent in 2018, IHS Markit's Purchasing Managers Index (PMI) shows that the growth rate of new orders from abroad in January was the highest of the last 12 months.

IHS Markit actually points out that the increase in new activity with foreign markets for a 16th month in a row is associated with the acquisition of new clientele. Still, the PMI slipped to 53.7 points last month from 53.8 points in December 2018.

To hold on to their clients abroad, Greek manufacturers have been forced to reduce their sale prices for a second consecutive month,...