Spain’s manufacturing sector expanded notably in January as new business rose at the fastest pace since February 2007, survey results from Markit showed Monday.
The Markit Purchasing Managers’ Index rose to 55.4 in January from 53 in December. The health of the sector strengthened to the greatest extent since May last year.
Production increased sharply in January, with the rate of expansion quickening for the third successive month to the fastest since May 2015.
Total new business grew at the sharpest pace since February 2007. The rate of job creation quickened to the fastest in five months.
Falling fuel and oil prices, coupled with declines in the costs of raw materials such as steel, resulted in a further reduction in input prices. Output prices declined at the strongest pace in 32 months.
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