- Prior 50.7
Spanish manufacturing activity picks up further towards the end of Q1 with fresh new order growth being observed. Output levels and employment were the strongest in over a year while average input costs fell for the first time since November 2019. S&P Global notes that:
“March’s PMI survey provided a whole host of positive news with regards to the Spanish manufacturing sector. An improvement in Spain’s domestic performance has been encouraging to see with the latest survey data indicative of the most pronounced growth in factory production in just over a year as well as a fresh uplift in order book volumes. However, perhaps the most pivotal findings within the latest survey came from the first improvement in vendor performance and the first fall in average operating expenses since November 2019 and July 2020, respectively. With global demand trends still relatively muted, we can expect to see some further alleviation in these pressures over the coming months.
“Elsewhere, some of the more forward-looking indicators have painted a bright picture for the sector’s future. With panel members often predicting growth in both output and demand in the near future, companies added to their employment levels at the strongest pace in 13 months, displayed some relative signs of improvement in input buying and added to their pre-production inventories again.”
/EUR
