Spain: Manufacturing PMI rises in May
June 1, 2015
The Markit Spain Manufacturing Purchasing Managers’ Index (PMI) rose in May, increasing from 54.2 in April to 55.8. As a result, the index is further above the 50-threshold that separates expansion from contraction in the manufacturing sector.
According to Markit, larger expansions were recorded in both new orders and in output. Manufacturing new orders increased at the sharpest pace in over eight years in May, and new export orders expanded for the 25 consecutive month. In addition, the pace of job creation increased in May. Markit analysts added that, “the Spanish manufacturing sector is not only sustaining recovery during Q2, but growth seems to be accelerating. Both output and new orders rose at rates not seen since before the economic crisis began in 2007. There was further evidence of inflationary pressures returning to the sector as input costs rose at the sharpest pace in more than two-and-a-half years, in part reflecting recent euro weakness.”