Spanish Manufacturing PMI fell to 53.8 in December

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Friday, Jan 02 2015

Spanish Manufacturing PMI fell from November’s 89month high of 54.7 to 53.8 in December. Analysts were anticipating increase to 54.9. Operating conditions in the sector have now improved for 13 successive months and the latest index reading was above the average for this sequence.

December data signalled a further marked rise in new business placed with Spanish manufacturers, which some panellists linked to new product launches and improved export demand. New export orders rose for the twentieth month running in December. The rate of expansion eased since the previous month, but was solid overall.

Data did not have any larger impact on the markets. Euro is currently being traded around 1.2060 level. Pair is likely to find support around 1.2030, session's low, and resistance near 1.21 handle. Later today, Italian Manufacturing PMI will be released.

More in this category: « Next target for euro 1.2050 level Italian Manufacturing PMI decreased to a 19-month low »

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