Spain: Manufacturing PMI improves in January
February 2, 2015
The Markit Spain Manufacturing Purchasing Managers’ Index (PMI) rose from 53.8 in December to 54.7 in January. As a result, the index is resting further above the 50-threshold that separates expansion from contraction in the manufacturing sector.
According to Markit, the increase mostly reflected that output and new orders expanded at faster rates, while employment hit an over seven-and-a-half year high. Input costs declined at the fastest pace in over five years on the back of low oil prices. Markit analysts stated that, “[t]he Spanish manufacturing sector began the new year as it ended the previous one, with solid growth of production and new business amid reports of improving economic conditions. Particularly welcome was a further acceleration in the rate of job creation.”