Spanish Manufacturing Just Had Its Best Month Since Early 2011

The evidence keeps piling up that Europe is in a recovery that includes not just the "core" but the periphery as well.

Thanks to strength in foreign demand, Spanish manufacturing just had its best month since April 2011, according to the just-released August PMI report from Markit.

The PMI (Purchasing Managers Index) is a survey of manufacturers that attempts to gauge whether they saw conditions improve of worsen from the month before.

Any reading over 50 indicates growth.

Spain's PMI just came in at 51.1, up from 49.8.