Spanish PMI Comes In Horrible — Employment Falls At Worst Pace Since 2009

As we expected, today’s PMI readings for Europe are showing the economic trainwreck on full display.

Remember, a PMI reading is a gauge of a country’s manufacturing sector. Anything below 50 is contraction.

Spain has just fallen from 46.8 to 44.2.

Here’s the broad summary.

Markit

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