Spanish manufacturing beats forecasts – IHS Markit

Posted on December 1, 2016

Spanish manufacturers reported a third successive month of improvement in November, with a closely-watched business index rising to its highest level since January.

Markit’s purchasing managers’ survey for the sector came in at 54.5, beating economist forecasts for the second month in a row.

In a sign of increasing momentum in the eurozone’s fourth-largest economy, respondents reported faster rises in output, new orders and employment in the month, with the best climb in new business since January.

Andrew Harker, IHS Markit senior economist, said:

The Spanish manufacturing sector made further progress in leaving behind the soft-patch seen around the middle part of the year in November as the latest PMI survey showed strengthening growth in a number of key variables such as output, new orders and employment. A note of caution is sounded by the price indices, however. Input costs rose at the sharpest pace for almost a year-and-a-half, but firms were only able to increase their selling prices marginally, raising pressure on operating margins.

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