Spain December manufacturing PMI 51.0 vs 52.5 expected
Latest data released by Markit - 4 January 2021
Spain's manufacturing sector returns to growth at the end of last year, bolstered by external demand whereas domestic demand conditions are still keeping weaker as underlying conditions remain challenging. Markit notes that:
- Prior 49.8
"December was a mixed bag for Spain's manufacturing sector as a positive uplift in external demand was again offset by sustained domestic weakness. With tourism and hospitality struggling to cope in the face of the pandemic, there has been a considerable knock-on effect for producers supplying these sectors.
"Adding to the challenges facing the manufacturing economy are rising cost pressures, with latest data showing input prices rising to the greatest degree for nearly three years as supply shortages pushed up costs. Faced with a subsequent margin squeeze, several firms saw little option but to increase their own charges.
"Despite the ongoing near-term uncertainty, companies are however growing more optimistic about their business performance in 12 months' time. Firms' confidence is centred on hopes that the pandemic will be firmly behind them by the end of next year - with market activity and demand subsequently well on the way to recovery."