Spain’s manufacturing activity expanded at the fastest pace in nearly 11 years in November, survey data from IHS Markit showed Friday.
The headline Purchasing Managers’ Index rose to 56.1 in November from 55.8 in October. This was the highest reading since February 2007. The score was forecast to improve markedly to 56.5.
Output growth hit a two-and-a-half year high amid another marked increase in new orders. Employment also increased in November, at the fastest rate since April 1998.
Input costs continued to rise sharply in November. As a result, output price inflation quickened to a four-month high.
“The sector is clearly in good shape as 2017 draws to a close, with hopes of continuing strong performance in 2018,” Andrew Harker, an associate director at IHS Markit, said.
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