Spain suffers 18th consecutive month of manufacturing decline

Spain's manufacturing sector has fallen more dramatically than expected in February, by 6.5 per cent year on year (a slump of 4.7 per cent was anticipated).

French manufacturing came in slightly stronger than expected, as Insee reported that manufacturing grew by 0.8 per cent on a monthly basis in February. However this slight boost did not compensate for a decline in manufacturing of 0.3 per cent over the last three months.

These figures come following previous data showing that industrial production had declined by 0.4 per cent across the Eurozone area in January.