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Spanish Manufacturing PMI slightly up in March

Wednesday, Apr 01 2015
While analysts were predicting small decline to 54.0 Spanish Manufacturing PMI ticked up fractionally from 54.2 in the previous month to 54.3 in March, thereby signalling a further solid improvement in operating conditions. The health of the sector has now strengthened in each of the past 16 months. 
 
Manufacturing production rose for the sixteenth month running in March, with the rate of expansion largely unchanged from February. Higher new orders was reportedly the main factor leading output to increase. 
 
Despite the figures, euro was pushed lower at opening of European part of the session and is currently being traded around 1.0750 area. Pair is likely to find support around 1.07 handle and resistance above 1.08 level. Later today, Italian Manufacturing PMI figures are scheduled for a release.
More in this category: « China's Manufacturing PMI data beats market expectations Italian Manufacturing PMI at the highest level since April 2014 »

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