Spain August manufacturing PMI 49.9 vs 48.5 expected

• Prior 48.7

It's a slight improvement to July as the contraction turns into stagnation but conditions remain relatively testing for Spain's manufacturing sector. Output was seen up slightly but new orders declined once again and job losses were registered for a second straight month. S&P Global notes that:

“Although the broad stagnation of the Spanish manufacturing sector was a relative improvement on July’s contraction, the latest survey again pointed to a challenging month for firms during August.

“New orders were again noticeably down, and firms highlighted how high inflation is eroding client purchasing power and permeating a whole host of input costs. Although there will be some encouragement that cost and charge inflation remain on downward trajectories, the degree to which prices are rising remains extremely elevated.

“Subsequently, 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 and the ongoing war in Ukraine are leading to market instabilities that are making for an extremely uncertain outlook. Confidence inevitably remains subdued and job losses were again recorded in August.”