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Spain May manufacturing PMI 53.8 vs 52.0 expected


Spain PMI

The Spanish manufacturing sector continued to grow in May but there are rising concerns as demand stagnated and  inflation  continues to be a major headwind to the overall outlook. S&P Global notes that:

“Although Spain’s manufacturing economy continued to grow in May, stagnant demand and ongoing severe inflationary pressures led to ongoing concerns about the underlying health of the sector.

“Indeed, panellists reported little choice but to pass on their own escalating costs through a rise in factory gate prices, but this was having a detrimental impact on sales – and suggesting that the spectre of stagflation is indeed a real and growing threat to economic stability.

“That said, falls in the respective price indices since April and the lowest incidence of supply-side delays for 14 months raises some hope that the underlying situation is improving.”

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