Spain PMI below expectations, yet employment growth fastest in 8 years

Seat factory in Spain

Business in the manufacturing sector continued to improve showing how Spain is recovering from a deep recession.

“A key feature of June’s manufacturing PMI for Spain was signs of capacity pressures building, as firms saw their outstanding business accumulate to the greatest extent since the end of 2006 and raised employment at the fastest pace in eight years accordingly. This was despite weaker expansions of output and new orders in the latest survey period. Meanwhile, cost pressures intensified, often on the back of a weak euro, and firms raised their output prices for the second month running,” said Andrew Harker, senior economist at Markit and author of the report on Spain.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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