We’ve just seen the latest manufacturing PMI data for Spain. The previous rise to 46.4 showed a sixth successive month of deterioration in operating conditions, as well as the weakest rate for three months. This morning, Spain’s index rose to 48.4 pointing to a seventh successive monthly contraction in the country’s manufacturing sector. It also indicates the softest since decline last September.
It is a similar story for France, which saw PMI rise to 50.50 this morning, following a previous 49.20.
