Latest data released by Markit - 1 July 2021
- Prior 59.4
A solid bump in manufacturing conditions as the recovery pace keeps up, with production rising by its sharpest since May 1998 on the back of strong demand. That said, supply constraints are still persisting with record price rises being noted. Markit says that:
"As we reach mid-year, growth of the Spanish manufacturing sector showed little sign of faltering. Output was ramped up to a degree unprecedented in over 23 years, driven by another considerable uplift in new orders.
"Indeed, order books were swelled by improved demand from across a spectrum of sources, with hospitality reportedly a key driver of growth as the economy reopens further in line with easing COVID restrictions.
"Challenges with supply chains persist, however, with little sign of these issues easing, not helped in part by firms attempting to purchase goods to either restock inventory or get ahead of further potential price rises.
"Indeed, such feedback loops are likely adding to stretched supply chains and price pressures: latest data showed input costs rising at the strongest rate since at least 1998 and helped explain another record increase in producer prices."
