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Spain Manufacturing Sector Contracts In November

Spain's manufacturing economy continued to shrink in November in the face of ongoing political and economic uncertainties, survey data from IHS Markit showed Monday.

The factory Purchasing Managers' Index rose to 47.5 in November from 46.8 in October. However, a score below 50 indicates expansion in the sector.

Orders and production remained firmly inside negative territory. Export orders were also down in November.

Despite strengthening to a three-month high, business confidence remained historically low. Data showed a moderate cut in staffing for a seventh successive month.

On the price front, firms benefited from reduced input costs, although strong competitive pressures meant output charges were reduced for a third month running.

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