The IHS Markit Spain Manufacturing PMI increased to 49 in June of 2020 from 38.3 in the previous month, beating market expectations of 45.1. The latest reading pointed to the fourth successive month of contraction but the softest since February. Both production and new orders continued to fall in June, albeit at much slower rates. Employment was cut at a rate that remained amongst the sharpest seen since the height of the global financial crisis in 2009, as plants were not operating at full capacity and choosing to limit working hours given the still weak trend in demand. On the price front, input costs fell for a thirteenth successive month and output prices reduced for a tenth month in succession. Finally, confidence about the future strengthened and returned to positive territory during June, on hopes that the continued easing of lockdown measures and reopening of businesses will lead to an increase in demand during the coming months.

Manufacturing PMI in Spain averaged 50.35 points from 2011 until 2020, reaching an all time high of 56.10 points in November of 2017 and a record low of 30.80 points in April of 2020. This page provides the latest reported value for - Spain Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Markit Economics

Manufacturing PMI in Spain is expected to be 42.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Spain to stand at 54.00 in 12 months time. In the long-term, the Spain Manufacturing PMI is projected to trend around 51.50 points in 2021 and 53.40 points in 2022, according to our econometric models.

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Spain Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.00 38.30 56.10 30.80 2011 - 2020 points Monthly
SA


News Stream
Spain Manufacturing PMI at 4-Month High
The IHS Markit Spain Manufacturing PMI increased to 49 in June of 2020 from 38.3 in the previous month, beating market expectations of 45.1. The latest reading pointed to the fourth successive month of contraction but the softest since February. Both production and new orders continued to fall in June, albeit at much slower rates. Employment was cut at a rate that remained amongst the sharpest seen since the height of the global financial crisis in 2009, as plants were not operating at full capacity and choosing to limit working hours given the still weak trend in demand. On the price front, input costs fell for a thirteenth successive month and output prices reduced for a tenth month in succession. Finally, confidence about the future strengthened and returned to positive territory during June, on hopes that the continued easing of lockdown measures and reopening of businesses will lead to an increase in demand during the coming months.
2020-07-01
Spain Factory Activity Shrinks for 3rd Month
The IHS Markit Spain Manufacturing PMI increased to 38.3 in May of 2020 from 30.8 in the previous month which was the lowest reading since December of 2008. It compares with market forecasts of 38. Spain’s manufacturing economy remained deep inside contraction territory during May. Although rates of decline in output, new orders, exports and purchasing all eased on April’s series records, ongoing restrictions on economic activity related to the global coronavirus disease continued to weigh on sector performance. Pessimism about the future also remained apparent, despite easing noticeably since April’s survey record. Firms remained worried about the longer-term impact on revenues, incomes and demand of the COVID-19 pandemic.
2020-06-01
Spain Factory Activity Shrinks to Over 11-Year Low
The IHS Markit Spain Manufacturing PMI declined to 30.8 in April 2020 from 45.7 in the previous month and missing market expectations of 34. The latest reading pointed to the sharpest contraction in factory activity since December 2008, as output, new orders, export sales and purchasing activity dropped at the fastest pace on record as the coronavirus pandemic hit the economy. The job shedding rate accelerated to its quickest since the global financial crisis in 2008. On the price front, deflationary pressures were apparent during April, with firms signalling concurrent falls in both input and output prices. The decline in input charges was the greatest in over four years mostly due to lower prices of metals and oil-related products, and output price deflation was the steepest since series began. Finally, confidence over the coming 12 months deteriorated to its lowest on record amid worries about the longer-term impact on demand and economic activity of the coronavirus pandemic.
2020-05-04
Spain Factory Activity Contracts the Most Since 2013
The IHS Markit Spain Manufacturing PMI fell to 45.7 in March 2020 from 50.4 in February, beating market forecasts of 44. Still, the reading pointed to the biggest contraction in factory activity since April 2013. Output fell to the strongest degree since June 2012, whilst new work declined at the greatest rate for 92 months; and export sales fell sharply and at the greatest rate since April 2009. Also, jobs were cut to the greatest degree since November 2013. With widespread disruptions to global supply chains owing to the COVID-19 pandemic, average lead times for the delivery of inputs deteriorated at a rate unseen in over 22 years of data collection. Deflationary pressures were apparent during the latest survey period, with firms signaling falls in both input and output prices. Finally, confidence about the future sank to its lowest ever recorded.
2020-04-01

Spain Manufacturing PMI
The Markit Spain Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 400 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.