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EUR erases some gains after weak PMI reading from Spain

8:22 AM 1 July 2024

Spanish HCOB Manufacturing PMI Jun: 52.3 (est 52.9; prev 54.0)

Key findings:

  • Production and new orders rise again, but at slower rates. Correspondingly, business expectations have fallen to their lowest level in 2024 and below the historical average.
  • Weaker growth in employment as confidence softens.
  • Input cost inflation accelerates to highest since November 2022.
  • Full document here.

Source: xStation 

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