June provided further signs that the decline in the Spanish manufacturing sector is coming to an end. New orders increased, driven by a marked rise in new business from abroad. Meanwhile, output, employment and purchasing activity all decreased at weaker rates. The seasonally adjusted Markit Purchasing Managers’ Index ® (PMI ® ) – a composite indicator designed to measure the performance of the manufacturing economy – posted 50.0 in June, signalling no change in business conditions during the month. This followed a reading of 48.1 in May, and ended a 25 - month sequence of deteriorating operating conditions. The ... (full story)