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Financial News: Spain's Factory Activity Growth Moderates In December

Spain's Factory Activity Growth Moderates In December

01/02/2018 - 03:31:00 (RTTNews)

(RTTNews) - Spain's manufacturing activity growth moderated from a near 11-year high in December, survey data from IHS Markit showed Tuesday.

The manufacturing Purchasing Managers' Index fell to 55.8 in December from 56.1 in November. Nonetheless, business conditions strengthened in each of the past 49 months.

Andrew Harker, associate director at IHS Markit said, "2017 has been a strong year overall, with the average PMI reading the best since 2006. The sector therefore is in good shape heading into 2018."

Production increased sharply on the back of a solid increase in new orders. In order to support output growth, manufacturers raised employment at a substantial pace that was one of the fastest seen throughout the survey to-date.

The rate of input cost inflation ticked down from November. Output prices also increased at a slower pace, but inflation has now been recorded in 15 successive months.

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