Greek manufacturing activity climbs to a nine-year high

Growth in Greek manufacturing activity accelerated in August for the third consecutive month as rising demand at home and abroad led firms to add jobs and increase production, a survey showed Friday. Markit's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about 10 percent of the economy, rose to 52.2 from 50.5 in July, its highest print since August 2008.

Readings above 50 denote expansion in activity. The pickup in growth was driven by a solid increase in new business, the sharpest since May 2014, with export orders also rising for the first time in a year. "Having endured years of economic malaise, the latest data will be music to the ears of many concerned with Greek manufacturing," said IHS Markit economist Alex Gill.

To keep pace with rising client demand, companies increased staffing numbers for the fourth straight month in August, at...