Spanish factory growth keeps picking up
Latest PMI data indicated that the Spanish
manufacturing sector maintained growth
momentum in March, Markit Economics has revealed.
The Spanish PMI, which is based on interviews with purchasing managers across the country, climbed to 52.8 in March, the fourth month in a row that it has come in above the 50-pint mark.
Rates of expansion in both output and new orders quickened during the month, although employment growth dropped off. For the second time in the past three months, input costs fell while output charges decreased at a moderated pace in March.
Firms reported a rise in new orders, and stronger demand from clients, the report also highlighted.
Commenting on the Spanish Manufacturing PMI survey data, Andrew Harker, senior economist at Markit and author of the report, said: ” The recent pick-up in the Spanish manufacturing sector continued in March, finishing off a solid first quarter.
“Sharper rises in both new and existing orders suggest that further growth of output is likely in the near-term. Input prices decreased for the second time in the past three months, highlighting a continued lack of inflationary pressure.”
At the same time, the Paris-based thinktank OECD, released a report praising the Spanish public sector reforms.
The OECD’s “Public Governance Review of Spain: From Administrative Reform to Continuous Improvement” gives a positive assessment of Spain’s CORA (Commission on Public Administration Reform) agenda and says few countries have put forward such ambitious and comprehensive plans for public reform.
However, the review warns that the reforms must be an ongoing project, not a one-off exercise, and suggests giving citizens a bigger voice in the process – using social media to communicate and seek feedback – as a way to enhance trust.
“Few countries have placed the strengthening of public institutions so high on their agendas,” said OECD Secretary-General Angel Gurría, presenting the review in Madrid.
“The CORA reform is a way for Spain to restore public trust in institutions and ensure it comes out of the crisis with a more effective, transparent and efficient public sector that is adapted to the challenges of the 21st Century. This is a critical step in Spain’s efforts to build a future of strong, inclusive growth.”
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