Spain April manufacturing PMI 53.3 vs 54.0 expected

• Prior 54.2

The report highlights a further loss in momentum for Spain's manufacturing sector, as output growth slows further and inflation concerns also weighing on sentiment. The recent transport strikes also didn't really help with overall conditions on the month. Meanwhile, pressure on supply chains continue to be rather damning. S&P Global notes that:

“Spain’s manufacturing economy continued to face an extremely difficult combination of challenges during April: ongoing supply-side disruption, exacerbated by the war in Ukraine, transportation strikes, and rapid cost inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term all weighed on the sector.

“These factors subsequently dampened production and hit order books, whilst manufacturers ended up with a record increase in warehouse inventories. Firms subsequently remained fairly subdued about the outlook, despite seeing a rebound since March’s low. This subsequently fed into employment and purchasing decisions, which both rose only marginally on the month.

“Although supply-side pressures showed some signs of easing, these remain severe, leading to another severe round of inflationary pressures. Firms, acutely aware that price and supply side difficulties are not going away anytime soon, subsequently continue to guard against these by further building up their safety stocks."