Greek Manufacturing Slumps at Record Pace as Crisis Takes Toll

Greece’s manufacturing industry shrank at a record pace last month as demand collapsed amid capital controls introduced in an attempt to contain the nation’s crisis.

Markit Economics said its factory Purchasing Managers’ Index fell to 30.2 from 46.9 in June. A reading below 50 indicates contraction. A gauge of new orders plunged to 17.9 from 43.2, also a record low.