The Spanish manufacturing sector closed off the second quarter of the year still in contraction mode amid further signs of demand weakness. Downturns in output and new orders were both sustained, with the rate of decline in the latter the sharpest since January. Firms responded to lower workloads by readjusting their staff numbers, resulting in the first fall in employment levels since last November. Subdued demand also acted to alleviate cost pressures further. Input prices fell at the sharpest rate in over three years and output charges decreased again. The headline HCOB Spain Manufacturing Purchasing Managers’ ... (full story)