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Spanish Manufacturing PMI up more than expected

Monday, Feb 02 2015
Spanish Manufacturing PMI  rose to 54.7 in January from 53.8 in December, beating market expectations on an incline to 54.2 and signalling a solid strengthening of business conditions. The health of the sector has now improved in each of the past 14 months. 
 
Manufacturing production increased sharply at the start of the year, with the rate of growth picking up since December. Panellists reported that further gains in new orders had been the main factor leading output to rise. The rate of expansion in new business also quickened in January as new orders rose for the fourteenth month running. 
 
Euro added few points after the data and is currently being traded few points above 1.1320 level. Pair is likely to find support around 1.1260 area and resistance near 1.1370 level. Later today, Italian Manufacturing PMI figures are scheduled for a release.
More in this category: « China Manufacturing PMI rose to 49.7 Italian Manufacturing PMI at a four-month high »

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