Spain's manufacturing economy shrank in July at the fastest rate ever seen in any European Union survey of the sector conducted by Markit, the research organisation said on Friday. The Purchasing Managers Index for Spain slipped to its lowest level since the survey began in February 1998, Markit said. The Markit Research Manufacturing PMI index contracted for the eighth consecutive month to 39.2, down from 40.6 in June. Any PMI figure below 50.0 shows contraction while figures over 50.0 show growth.
Eurostat figures show that May unemployment in Spain was the highest in the 27-member bloc after Slovakia, and the government said it expected it to rise to 12.5 percent by the end of 2009. The Markit figures indicate a continued rise in unemployment to the end of the year, with the index's employment rating falling to 38.8 from 39.3. Staffing levels contracted for the 11th month running and the rate of decline has accelerated in each month so far in 2008, the survey showed
Spain Real Time Data Charts
Edward Hugh is only able to update this blog from time to time, but he does run a lively Twitter account with plenty of Spain related comment. He also maintains a collection of constantly updated Spain charts with short updates on a Storify dedicated page Spain's Economic Recovery - Glass Half Full or Glass Half Empty?