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Spanish Manufacturing PMI fell to 51.0

Monday, Aug 01 2016

The Spanish manufacturing sector moved closer to stagnation in July as new orders and purchasing activity decreased and output growth slowed. On a more positive note, firms continued to take on extra staff at a solid pace. On the price front, a modest increase in input costs was recorded, while output prices were raised for the first time in just over a year.

The headline Markit Spain Manufacturing PMI is 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 PMI posted 51.0 in July, down from 52.2 in June and thereby pointing to a weaker improvement in the health of the sector. In fact, the latest strengthening of business conditions was the least marked since the end of 2013.

 

Euro is currently being traded around 1.1160 area. Pair is likely to find support around 1.11 handle and resistance above 1.12 area.

Last modified on Monday, 01 August 2016
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