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Weakest rise in output since August 2017, Spanish PMI figures show

Monday, Jul 02 2018
Weakest rise in output since August 2017, Spanish PMI figures show

Spanish manufacturing business conditions continued to improve at the end of the second quarter of 2018, although the rate of growth in the sector remained muted relative to earlier in the year. Output increased at the weakest pace in ten months, but the rate of growth in new orders accelerated. The rate of input cost inflation quickened for the second month running, leading to a marked rise in output prices that was the fastest since January 2017.

The headline IHS Markit Spain Manufacturing PMI – a composite single-figure indicator of manufacturing performance – was unchanged at 53.4 in June, signalling a solid monthly improvement in the health of the manufacturing sector, but one that was the joint-weakest in ten months. Operating conditions have now strengthened in each of the past 55 months.

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