Spanish factory activity expanded in July

Spanish factory activity expanded in July, rebounding from its worst slowdown in almost 12 years as the economy revived after the government ended one of Europe’s strictest coronavirus lockdowns a month earlier, a survey showed on Monday.

In another positive sign, new car registrations ticked up by 1.1% in July from a year ago, largely thanks to help-to-buy schemes, according to car makers’ association Anfac.

IHS Markit’s Purchasing Managers’ Index (PMI) of manufacturing companies rose to 53.5 in July from 49.0 in June, having dived to 30.8 in April when all non-essential economic activity in the country was halted by the lockdown.

Written by BayRadio