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Spanish manufacturing expands in December strongest in 11 months

Staff Writer | January 2, 2017
Spanish factory activity expanded at the fastest pace in 11 months in December driven by strong orders and increasing output.
Spain workers
Spain   Markit PMI rose to 55.3
Markit's Purchasing Managers' Index (PMI) of manufacturers rose to 55.3 in December from 54.5 in November. The index has held above the 50 line separating growth from contraction every month since November 2013.

"The Spanish manufacturing PMI signalled that the sector ended 2016 on a high, with growth back at the levels seen at the start of the year. The picture is much more positive than in the summer when output and new orders stagnated," senior economist at Markit Andrew Harker said.

New factory orders expanded at their fastest pace since the beginning of the year in December, rising to 57.1 from 55.4 a month earlier.