Production growth largely reflected higher new orders. Total new business increased markedly, albeit at a slightly reduced pace. Meanwhile, the rate of expansion in new export orders was among the fastest since the survey began in February 1998. Employment growth was also among the sharpest so far, only bettered in the opening three months of the survey. Extra staff were reportedly hired in response to rising workloads and the prospect of further growth in coming months.
Spanish Manufacturing PMI at highest since February 2007
The PMI rose to 56.1 in November from 55.8 in October, the highest reading since February 2007. Operating conditions have now improved on a monthly basis throughout the past four years. The rate of growth in manufacturing output quickened for the third successive month in November, reaching the strongest since May 2015. The sharp rise in production resulted in a third successive monthly increase in stocks of finished goods, the fastest in nine years.
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