Latest data released by Markit - 1 December 2020
- Prior 52.5
A drop in demand due to the virus resurgence is not only weighing on services but also manufacturing in Spain, with the headline confirming a drop into contraction territory last month. The decline in new orders was the main reason as the drop was the sharpest since May. Markit notes that:
"November proved to be a challenging month for Spanish manufacturers as a noticeable reduction in demand, especially from those sectors most influenced by socialcontact such as tourism and hospitality, weighed on order books.
"However, it was not just consumer-facing industries that struggled, but more worryingly capital goods producers as well. Uncertainty about the near-term evolution of the COVID-19 pandemic continues to impact heavily on investment and spending decisions.
"With increasingly positive news about vaccine developments, confidence about conditions in a year's time is however building, and once the pandemic is brought fully under control, manufacturers are confident that activity and demand will increase."
