Spanish S&P Manufacturing PMI (Mar) 48.7 vs. Exp. 50.5 (Prev. 50.0)
- "Not surprisingly, supply chain disruption is also widespread, with input delivery times lengthening markedly. And firms are somewhat understandably responding to heightened uncertainty and falling order books by cutting jobs and lowering purchasing activity accordingly."
- "Input cost inflation has accelerated rapidly and now stands at its highest level since late 2022".
Context
The Spanish Manufacturing PMI printed significantly below expectations and prior readings, indicating contraction in the sector. This suggests heightened economic uncertainty, potential job cuts, and declining purchasing activity, which could influence the broader eurozone outlook and prompt considerations for monetary policy adjustments in the region.
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