[Madrid Reuters]-Markit announced the Spanish Manufacturing Purchasing Manager's Index (PMI) in September was 47.7, down from 48.8 in August, 6 years since April 2013 It was a low level for the first time in half. Uncertainty over politics and the economy affected it.
Production index decreased from 47.1 to 46.5. This was the fourth consecutive month of decline.
“European and global political and economic uncertainty is clearly putting pressure on Spanish manufacturers, especially capital goods manufacturers,” said Paul Smith, director of IHS Markit. The prospects have dropped to the lowest level in six and a half years, as there are few signs of resolution of domestic and overseas political problems, such as the withdrawal of the European Union from the UK. "
While the Spanish economy continues to grow relatively high within the euro area, recent data show that growth is slowing.
Gross domestic product (GDP) for the second quarter announced on the previous day increased 0.4% from the previous quarter, slowing slightly from the 0.5% increase in the first quarter. [nL3N26L28B]
