Market Updates: Spanish Manufacturing PMI Slips to 49.9
The Markit just released the Spanish PMI data and there was little change in Spanish manufacturing operating conditions during February. Marginal rise in production was offset by a modest reduction in new work and a near stagnation of employment.
Inventories of finished goods were reduced markedly in response to weakening trends in output and demand, whilst business confidence softened to a three-month low. For now, the Spanish PMI has dropped to 49.9 vs. 52.4 forecast.
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