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.