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Spain Manufacturing PMI At 4-Month High

Spain's manufacturing sector continued to contract but at the slowest pace in four months due to the easing of lockdown measures, survey results from IHS Markit showed Wednesday.

The manufacturing Purchasing Managers' Index rose to 49.0 in June from 38.3 in May. A score below 50 indicates contraction.

The latest reading was the best since February and continued the strong gains in the index since April's nadir of 30.8.

Both production and new orders continued to fall in June, albeit at much slower rates. Manufacturers cut their staffing levels sharply.

Input costs fell for a thirteenth successive month and manufacturers reduced their own charges sharply, and for a tenth month in succession.

Confidence among manufacturers returned to positive territory for the first time since February.

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