Spain's manufacturing sector expands for third straight month in October: PMI

Growth in Spanish manufacturing activity sped up slightly in October, a survey showed on Monday, though companies cut staff at a faster rate, pointing to a weak, jobless recovery in the fourth quarter. Markit's Purchasing Managers' Index (PMI) of manufacturing companies stood at 50.9 in October, just above September's 50.7 and marking the third straight month above the 50 line separating growth from contraction. Spain's economy returned to growth in the July-September period after nine quarters of contraction, driven by a strong export sector.

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