Spanish factory activity shrinks for sixth straight month in Sept -PMI
MADRID - Factory activity in Spain shrank again in September as market conditions and high prices weighed on manufacturers, who also shed jobs as a result, a survey showed on Monday.
"Output and new orders both registered declines during September," S&P Global said in the survey report."Firms widely commented on widespread market uncertainty and that high prices were having a negative impact on demand." The weakness in the manufacturing sector was last month matched by a downturn in the bigger services sector, which contracted for the first time in 10 months.
Last week, the statistics institute revised up second quarter growth to 0.5% from an initial 0.4% and first quarter growth to 0.6% from an earlier 0.5%. The central bank expects to see a further slowdown to 0.3% growth in the third quarter.
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