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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SPAIN DATA
Spanish December manufacturing PMI remained in contractionary territory for the 9th consecutive month printing at 46.2 (vs 46.3 prior and consensus). The release indicates continued softening in inflationary pressures in the sector, consistent with last Friday's flash CPI data.
Key notes from the release are:
- "A lack of demand for inputs helped to explain another decline in input prices", and output charges also fell. "Fierce market competition was noted as a factor behind the decision to cut prices".
- Employers lowered staff numbers in December, though "excess capacity remained prevalent, with backlogs of work being cut to the steepest degree for three-and-a-half years".
- New orders and production both "fell steeply amid reports of subdued market demand", with new orders down both domestically and internationally. "The drop in input buying was again severe with firms signalling a preference to utilise existing stocks in production rather than buy-in new goods".
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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