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Financial News: Spain's Manufacturing Sector Growth Gains Momentum

Spain's Manufacturing Sector Growth Gains Momentum

05/02/2017 - 05:31:00 (RTTNews)

(RTTNews) - Spain's manufacturing sector expanded at a strong pace in April with faster rises in output, new orders and employment, survey data from IHS Markit showed Tuesday.

The Purchasing Managers' Index rose to 54.5 in April from 53.9 in March. Business conditions have strengthened in 41 consecutive months.

Output grew at the fastest pace in three months. New business also expanded in April with new export orders rising particularly sharply.

Although remaining marked, the rate of input cost inflation eased from March's near six-year high. At the same time, output price inflation remained broadly in line with that seen in March.

Andrew Harker, a senior economist at IHS Markit, said, "There was a welcome tick-up in growth in the Spanish manufacturing sector during April, after weaker rises in output and new orders had been seen throughout the first quarter of the year."

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