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Spanish output expands at quicker pace in June

Staff writer ▼ | July 5, 2016
Business conditions in the Spanish manufacturing sector improved modestly in June. While the rate of new order growth eased further and was marginal, output rose at a faster pace.
Spanish output
Spanish economy   Markit Spain Manufacturing PMI
That in turn was leading firms to take on extra staff and increase purchasing activity.

Meanwhile, input costs were broadly unchanged and output prices continued to fall. The seasonally adjusted Markit Spain Purchasing Managers’ Index (PMI) ticked up to 52.2 in June from 51.8 in May.

This signalled a modest strengthening of operating conditions, and one that was slightly more marked than one month previously. The health of the sector has improved continuously since December 2013.

Central to the stronger improvement in business conditions was a quickening of output growth. Production rose for the thirty-first successive month, and at a solid pace. Output increased across all three monitored market groups, led by intermediate goods producers.