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Financial News: Spain's Manufacturing Sector Strongest Since 2015

Spain's Manufacturing Sector Strongest Since 2015

02/01/2017 - 05:41:00 (RTTNews)

(RTTNews) - Spain's manufacturing sector expanded at the fastest pace in more than a year in January, survey results from Markit showed Wednesday.

The Purchasing Managers' Index rose unexpectedly to 55.6 in January from 55.3 in December. The score was forecast to fall to 55.

A reading above 50 indicates expansion in the sector. The reading signaled the strongest growth since May 2015.

New orders increased at a sharp pace that was little-changed from that seen in December. The key highlight from the latest survey was the sharpest rise in employment since July 1998, while business sentiment picked up.

On the price front, rates of both input cost and output price inflation quickened markedly amid reports of higher raw material costs.

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