Growth of Spain’s manufacturing economy was sustained in November, with output and new orders continuing to expand solidly. Confidence in the outlook remained positive although firms were reluctant to hire additional staff with workforce numbers little changed overall. Moreover, growth occurred partly due to a squeeze in margins. Latest data showed that output charges were cut for the third successive month as, despite a marginal rise in input costs, firms offered discounts in response to competitive pressures. The seasonally adjusted HCOB Spain Manufacturing Purchasing Managers’ IndexTM (PMI®) – a composite index ... (full story)