The HCOB Spain Manufacturing PMI rose to 49.2 in January 2024 from 46.2 in the previous month, coming above market forecasts of 48. It marked the 10th consecutive period of contraction but the less pronounced in the sequence, as the rate of decline in both output and new orders were significantly slower and was the softest since June 2023. Similarly, new export orders decreased to a lesser extent. Meanwhile, firms remained cautious when it came to purchasing activities and employment decisions, leading both indicators to continually fall at the start of the year. On prices, further declines in input and output costs were recorded, as soft demand in global markets continued to weigh. Despite subdued market conditions and concerns over emerging supply-side shortages, Spanish manufacturers signaled a noticeable improvement in business confidence, mainly due to expectations of the release of new products, organic business growth and uplift demand over the next 12 months. source: S&P Global

Manufacturing PMI in Spain increased to 49.20 points in January from 46.20 points in December of 2023. Manufacturing PMI in Spain averaged 50.75 points from 2011 until 2024, reaching an all time high of 60.40 points in June of 2021 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 February of 2024.

Manufacturing PMI in Spain increased to 49.20 points in January from 46.20 points in December of 2023. Manufacturing PMI in Spain is expected to be 49.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Manufacturing PMI is projected to trend around 51.00 points in 2025, according to our econometric models.

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Spain Manufacturing PMI


Related Last Previous Unit Reference
Services PMI 52.10 51.50 points Jan 2024
Manufacturing PMI 49.20 46.20 points Jan 2024
Business Confidence -5.60 -6.70 points Jan 2024
Industrial Production Mom -0.30 1.10 percent Dec 2023
Industrial Production -0.25 0.88 percent Dec 2023
Manufacturing Production -1.53 1.57 percent Dec 2023
Capacity Utilization 77.20 77.84 percent Mar 2024
New Orders -13.60 -12.70 points Jan 2024
Changes in Inventories 6011.00 3011.00 EUR Million Dec 2023
Bankruptcies 2669.00 2201.00 Companies Dec 2023
Total Vehicle Sales 68685.00 81772.00 Units Jan 2024
Car Registrations 68685.00 81772.00 Units Jan 2024
Car Production 1074.00 2012.00 Hundred Units Dec 2023
Electricity Price 3.82 6.72 EUR/MWh Feb 2024
New Passenger Car Registrations YoY 7.30 10.60 percent Jan 2024
Composite Leading Indicator 99.25 99.14 points Jan 2024
IP Addresses 14575619.00 13803828.00 IP Mar 2017
Internet Speed 15487.07 15362.73 KBps Mar 2017
Cement Production 1168.91 1241.91 Thousands of Tonnes Jan 2024
Composite PMI 51.50 50.40 points Jan 2024
Electricity Production 22562.74 21579.96 Gigawatt-hour Dec 2023
Corruption Rank 36.00 35.00 Dec 2023
Corruption Index 60.00 60.00 Points Dec 2023
Mining Production 13.33 -45.17 percent Dec 2023
Natural Gas Stocks Inventory 31.70 31.79 TWh Dec 2023
Natural Gas Stocks Capacity 34.09 34.09 TWh Dec 2023
Steel Production 891.00 1133.00 Thousand Tonnes Dec 2020
Natural Gas Stocks Injection 0.00 0.00 GWh/d Jan 2020
Competitiveness Rank 23.00 26.00 Dec 2019
Competitiveness Index 75.28 74.20 Points Dec 2019
Factory Orders 1.30 -20.30 percent Dec 2019
Ease of Doing Business 30.00 30.00 Dec 2019
Natural Gas Stocks Withdrawal 57.30 38.00 GWh/d Jan 2018

Spain Manufacturing PMI
The S&P Global 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.
Actual Previous Highest Lowest Dates Unit Frequency
49.20 46.20 60.40 30.80 2011 - 2024 points Monthly
SA

News Stream
Spain Manufacturing Contraction Eases
The HCOB Spain Manufacturing PMI rose to 49.2 in January 2024 from 46.2 in the previous month, coming above market forecasts of 48. It marked the 10th consecutive period of contraction but the less pronounced in the sequence, as the rate of decline in both output and new orders were significantly slower and was the softest since June 2023. Similarly, new export orders decreased to a lesser extent. Meanwhile, firms remained cautious when it came to purchasing activities and employment decisions, leading both indicators to continually fall at the start of the year. On prices, further declines in input and output costs were recorded, as soft demand in global markets continued to weigh. Despite subdued market conditions and concerns over emerging supply-side shortages, Spanish manufacturers signaled a noticeable improvement in business confidence, mainly due to expectations of the release of new products, organic business growth and uplift demand over the next 12 months.
2024-02-01
Spain Manufacturing Conditions Deteriorate
The HCOB Spain Manufacturing PMI edged lower to 46.2 in December 2023 from 46.3 in November, and below forecasts of 47. The reading showed operating conditions in the manufacturing sector deteriorated for a ninth month in a row, as output and new orders fell steeply amid reports of subdued market demand with customers unwilling to commit to new sales. Firms subsequently remained cautious when it came to purchasing activities, preferring instead where possible to run down any excess stock at their plants. Staffing levels were also cut, and confidence in the outlook remained subdued. Deflationary pressures were again apparent as both input and output prices declined at faster rates. Meanwhile, there are hopes for an improvement in market demand, and several firms mentioned that product launches are planned for 2024, although many firms are worried that prices will remain high and some signaled concerns about recruiting qualified staff.
2024-01-02
Spain Factory Activity Shrinks Less
The HCOB Spain Manufacturing PMI dropped to 46.3 in November 2023 from 45.1 in October, beating the market forecasts of 45.5 but remaining contractionary for the eight consecutive month against a backdrop of ongoing political and economic uncertainties. Output and new orders fell further, with the former declining at its steepest pace in 2023 due to a to a lack of workloads at plants. With smaller sales and production needs, firms have cut their buying activity markedly. Meanwhile, staff lay-offs continued at a modest rate. On the price front, input costs and output charges decreased for the ninth and eighth month, respectively. Finally, manufacturer's confidence over the next 12 months stayed subdued.
2023-12-01