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Financial News: Spain's Manufacturing Sector Expands In August

Spain's Manufacturing Sector Expands In August

09/03/2018 - 06:04:00 (RTTNews)

(RTTNews) - Spain's manufacturing activity continued to expand in August, survey results from IHS Markit showed Monday.

The factory Purchasing Managers' Index rose marginally to 53.0 in August from 52.9 in July. However, the latest strengthening of business conditions remained much weaker than those seen around the turn of the year.

Steady growth was seen in August with increases in both output and new orders slightly faster than seen in July. Employment increased solidly with the rate of job creation broadly in line with that seen in July.

At the same time, business confidence dropped in August and was the lowest since June 2013.

Andrew Harker, an associate director at IHS Markit said, "Latest manufacturing PMI data for Spain suggest that the sector has settled into a period of steady but unspectacular growth following strong gains around the turn of the year."

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