Financial information company Markit calculated that manufacturing activity in Greece plunged during the month to 30.2 points, the lowest reading ever – a reading above 50 reflects positive activity. Additionally, the Economic Sentiment Indicator, a monthly survey of business and consumer confidence, dipped for a fifth consecutive month in July.
“We don’t recommend investing in Greece at this point because the situation isn’t clear enough,” Ponte added. “While we do not see it leaving the euro, there’s still too much uncertainty and volatility going forward.”
Global X FTSE Greece 20 ETF
For more information on Greece, visit our Greece category.
Max Chen contributed to this article.