Spain Records Strong Manufacturing Reading in June

Spain’s manufacturing activity recorded its strongest reading for more than two years in June, suggesting the sector’s long contraction may have stabilised.

An rise in new orders pushed Spain’s purchasing managers’ index (PMI) up to 50, from 48.1 in May.

The monthly industry survey provides a snapshot of industry conditions and a reading above 50 indicates growth.

Meanwhile, separate data showed that the eurozone unemployment rate reached 12.1% in May, its highest level ever.

Unemployment across the 17-countries, according to the European Union statistical agency, was just above April’s figure of 12%, which had been revised down from an earlier estimate of 12.2%, making May’s figure the new record.

Other economic data released by Eurostat on Monday showed inflation in the eurozone rose to 1.6% in June, from 1.4% in May.

via BBC

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