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Downturn in Spanish manufacturing sector intensifies in October
October proved to be another challenging month for Spain’s manufacturing economy. Output, new orders and employment were all reported to have fallen at faster rates, linked by panellists to deteriorating market conditions and an increasingly challenging economic environment. Poor demand meant firms chose to cut their charges and pass on lower input costs to clients. Confidence in the future was also down since September and amongst the lowest recorded by the survey during the past year. The headline HCOB Spain Manufacturing Purchasing Managers’ IndexTM (PMI®) remained below the 50.0 no-change mark in October for ... (full story)