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Financial News: Spain's Manufacturing Growth Weakest In 11 Months

Spain's Manufacturing Growth Weakest In 11 Months

09/01/2017 - 03:29:00 (RTTNews)

(RTTNews) - Spain's factory activity expanded at the slowest pace in almost a year in August, data from IHS Markit showed Friday.

The headline IHS Markit Purchasing Managers' Index fell to 52.4 in August from 54.0 in July. This was below the expected level of 54.4 and the lowest since September last year.

Nonetheless, any score greater than 50 indicates overall improvement of the sector.

Total new business increased at a moderate pace that was the slowest for a year. Production rose for the forty-fifth successive month, but the rate of growth continued to slow from May's recent high.

Manufacturers took on extra staff at a solid pace in August.

Some firms increased their output prices in response to higher raw material costs. Selling prices rose only slightly and at the slowest pace in nine months in August.

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