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Spanish Manufacturing PMI fell in February

Monday, Mar 02 2015
Spanish Manufacturing PMI posted 54.2 in February, down slightly from the reading of 54.7 in January and below forecasts on incline to 55.2, but still signalling a marked monthly improvement in operating conditions. The health of the sector has now strengthened in each of the past 15 months.
 
Driving the latest improvement in business conditions was a sharp and accelerated rise in new orders. Moreover, the rate of expansion was the fastest since April 2007. Panellists reported increased client demand in both domestic and export markets. New export business also rose at a faster pace during February, partly helped by the relative weakness of the euro. 
 
Data did not have any major impact on the markets with euro currently being traded few points above 1.1180 level. Pair is likely to find support around 1.1150 and resistance above 1.1250 level. Later today, Italian Manufacturing PMI figures are scheduled for a release.
More in this category: « Company Operating Profits down by 0.2% in Q4 Italian Manufacturing PMI at an eight-month high »

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