{"id":41713,"date":"2013-09-05T03:53:01","date_gmt":"2013-09-05T07:53:01","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=41713"},"modified":"2013-09-05T03:53:01","modified_gmt":"2013-09-05T07:53:01","slug":"spain-pmi-climbs-to-50-4-in-august","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/09\/05\/spain-pmi-climbs-to-50-4-in-august\/","title":{"rendered":"Spain PMI climbs to 50.4 in August"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Spain\u2019s final services PMI rose from 48.5 in the previous month to 50.4 in August, exceeding analysts\u2019 forecast of 49.5 and putting an end to the services sector\u2019s two-year tightening, according to the Markit Economics data. The positive final services PMI reports were assisted by the debt crises dragging Spain\u2019s economy for more than two years.<\/strong><\/p>\n

Spain PMI – Final Manufacturing PMI<\/span><\/h2>\n

Apart from the positive final manufacturing PMI reports indicating a growth in Spain\u2019s industry sector, the report also shows the sector rose above the 50 threshold to 51.1, up from 49.8 from the previous month.<\/span><\/p>\n

“The news from the Spanish manufacturing sector improved again in August, with PMI data highlighting a first rise in output for 28 months. As has been the case in recent months, exports were the key source of positive momentum as growth quickened sharply. Firms appear still to doubt the sustainability of the current improvements, however, opting to raise output only modestly and often using existing stocks to meet new order requirements”, Andrew Harker, economist at Markit, stated in the report.<\/p>\n

Spain\u2019s GDP<\/span><\/p>\n

Spain\u2019s gross domestic product (GDP) declined 0.1% in the second quarter as analysts predicted, after a 0.5% drop in the first quarter, reports from the National Institute of Statistics confirmed.<\/p>\n

Annually, the gross domestic product contracted 1.7%, down from 2.0% in the previous quarter. The fall was caused by the weak domestic demand. Analysts are predicting the country\u2019s economy could get hit be recession again this year due to the fall in consumer and investment spending and high unemployment figures.<\/p>\n

The Spanish government\u2019s finance is expected to go under more pressure due to the fall in the economic output. The government\u2019s gross debt is predicted to reach 101% of GDP by 2014 after an estimated government debt ratio of 88.4% of GDP in 2012, according to forecasts from the European Commission (EC).<\/p>\n

 <\/p>\n

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The post Spain PMI climbs to 50.4 in August<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Spain\u2019s final services PMI rose from 48.5 in the previous month to 50.4 in August, exceeding analysts\u2019 forecast of 49.5 and putting an end to the services sector\u2019s two-year tightening, according to the Markit Economics data. The positive final services PMI reports were assisted by the debt crises dragging Spain\u2019s … <\/p>\n

Continue reading “Spain PMI climbs to 50.4 in August”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-41713","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/41713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=41713"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/41713\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=41713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=41713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=41713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}