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Financial News: Spain's Manufacturing Growth Robust In January

Spain's Manufacturing Growth Robust In January

02/01/2018 - 04:50:00 (RTTNews)

(RTTNews) - Spain's manufacturing activity continued to improve markedly at the start of the year, survey data from IHS Markit showed Thursday.

The manufacturing Purchasing Managers' Index fell to 55.2 in January from 55.8 in December. Economists had expected the index to fall to 55.6.

However, any reading above 50 indicates expansion in the sector.

Output rose sharply amid further rises in new orders. Consequently, firms lifted their workforce numbers and purchasing activity.

On the price front, input price inflation accelerated to a ten-month high, led by higher prices for oil and petrol, as well as rising costs for raw material such as steel. Output prices also rose at a sharp pace in January.

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