Spanish PMI hits seven-year high

Spain’s manufacturing Purchasing Managers Index (PMI) has hit 54.6 in June, up from 52.9 in May, Markit Economics has revealed.

As Markit highlighted, such level has not been seen since the financial crisis began in 2007, together with the strongest growth of output since April 2010.

The financial information services provider also saw the sharper increases in new orders and employment, as well as an increase in the output prices  for the second successive month.

Commenting on the Spanish Manufacturing PMI survey data, Andrew Harker, senior economist at Markit and author of the report, said: ” In contrast to the disappointing results for „La Roja‟ in Brazil, the performance of the Spanish
manufacturing sector provided plenty of encouragement in June.

“Sharp rises in output and new orders were recorded, while the rate of job
creation picked up to its strongest since mid-2007.

“This all added up to the strongest monthly improvement in the health of the sector for seven years. Adding to positive signs was a second successive monthly rise in output prices as client demand strengthens.”



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