Spain’s PMI has risen to 45.3 from 43.5 last month.
more to come in a moment.

This is still economic deterioration (as the number was sub-50) and New Orders was weak again, but basically the pace of decline has improved modestly.

The full report from Markit is here.



EARLIER: The European wave of PMIs is about to begin.

At 3:15 AM ET we get Spanish PMI.

This is basically Europe’s #1 worry spot these days, and it will be notable to see how much more pain it is experiencing.

Last month came in at 43.5

We’ll have the number here, and we have our full PMI rundown here.

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