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Spain manufacturing continues solid expansion in June

Staff Writer |
Spain's manufacturing sector continued to expand in June with growth in output and new orders remaining strong while job creation held near-record highs.

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Markit's Purchasing Managers' Index (PMI) of manufacturing companies stood at 54.7 in June, down very slightly from 55.4 in May.

The index has held above the 50 line separating growth from contraction every month since November 2013.

"June saw a continuation of the recent strong performance of the Spanish manufacturing sector, with growth remaining elevated.

"The first half of the year has been impressive, with no real sign among the latest data that rates of expansion are running out of steam heading into the second half," senior economist at IHS Markit Andrew Harker said.

The Bank of Spain said on Thursday it expected second quarter economic growth to be 0.9 percent from a quarter earlier, the strongest expansion since the third quarter of 2015.

Manufacturing output also remained firmly in expansion territory, with the index at 55.8 in June, down from 57.0 in May.

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