Latest data released by Markit - 3 August 2020
- Prior 49.0
Spanish factory activity returns back to growth after the easing of lockdown restrictions in the country, with the details showing marked gains in new orders and manufacturing output. The less positive news continue to be that related to job losses though.
Markit notes that:
"Spain's manufacturing sector finally returned to growth territory during July as the further re-opening of the economy helped to support an upswing in demand and drive higher orders from both domestic and international sources.
"However, there remains some way to go until we see a return to levels of activity recorded before the COVID-19 pandemic intensified, with the latest survey again showing falling backlogs of work and cuts to employment.
"Manufacturers are generally cautious in their view of how the rest of the year and the first half of 2021 will work out, with many expecting a steady recovery - but with notable downside risks given the clear potential for a resurgence in COVID-19 and the associated negative impact on overall economic activity."