Fastest rise in employment since July 1998Staff Writer | February 6, 2017
The Spanish manufacturing sector started 2017 in a similar fashion to how it ended 2016, with sharp rises in output and new orders recorded.
Spain Markit Spain Manufacturing PMI
On the price front, rates of both input cost and output price inflation quickened markedly amid reports of higher raw material costs.
The headline Markit Spain Manufacturing PMIis a composite single-figure indicator of manufacturing performance.
It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.
Any figure greater than 50.0 indicates overall improvement of the sector.
The headline PMI ticked up to 55.6 in January from 55.3 in the previous month, signalling a further marked improvement in the health of the sector, and one that was the strongest since May 2015.
New orders increased at a sharp pace that was little-changed from that seen at the end of 2016.
According to respondents, the rise was reflective of stronger client demand and increased new export orders.
The rate of growth in new export business quickened to the sharpest in 20 months.
Growth of production and new orders led manufacturers to increase their staffing levels in January.
In fact, the rate of job creation was one of the sharpest since the survey began in February 1998. ■