Spain Manufacturing PMI2011-2020 Data | 2021-2022 Forecast | Calendar | Historical

The IHS Markit Spain Manufacturing PMI increased to 48.5 in January of 2020, from 47.4 in December but missed market expectations of 48.9. Still, the reading pointed to the 8th straight month of contraction in factory activity. Output, new orders and purchasing activity all fell in January, albeit at slower rates compared to December, whilst jobs were cut to the sharpest degree since November 2013. On the price front, prices paid have now fallen for eight months in a row, although the latest deflation was little changed since December. Companies chose to pass on their savings to clients in the form of lower charges. Discounting also reflected conscious efforts to stimulate sales and respond to a deeply competitive marketplace. Finally, business confidence strengthened to the highest in seven months, due to plans to launch new products, bolster commercial activities and improve plant facilities in the coming year.

The IHS Markit Spain Manufacturing PMI edged down to 47.4 in December of 2019 from 47.5 in November, compared to market expectations of 47. The reading pointed to the 7th straight month of contraction in factory activity, amid the biggest fall in production since April of 2013 due to a combination of falling order books and excess capacity in the sector. New orders and export trade were reduced due to an unstable demand environment, both at home and abroad. The automotive sector remained a key source of weakness, whilst some firms mentioned Brexit as a contributing factor behind reduced sales. Also, job cuts were the sharpest in over six years. On the price front, input costs continued to fall amid reports of a general deflationary environment and output charges were lowered for a fourth month. Regarding business confidence, it was the highest since June although political and economic uncertainties continued to weigh.

The IHS Markit Spain Manufacturing PMI rose to 47.5 in November 2019 from 46.7 in the previous month and above market consensus of 46.7. The latest reading still pointed to a deterioration in operating conditions for a sixth month in succession, amid ongoing political and economic uncertainties. Output and new orders continued to contract at a steep rate, in part the result of a faster drop in export business, with demand from key European markets being especially weak. In addition, employment declined for the seventh consecutive month, as evidence of spare capacity persisted and business confidence remained historically low. On the price front, firms benefited from reduced input costs, although strong competitive pressures meant output charges were reduced for a third month running.

The IHS Markit Spain Manufacturing PMI fell to 46.8 in October 2019 from 47.7 in the previous month and below market expectations of 47.5. The latest reading pointed to the steepest contraction in factory activity since April 2013, as output and new orders dropped sharply to its lowest in six-and-a-half years amid reports of underwhelming market demand and clients adopting a cautious approach to their buying and investment activities. Also, job cuts were recorded for the sixth successive month and purchasing activity declined at the fastest pace for six-and-a-half years. On the price front, input prices decreased for the fifth straight month, albeit at a softest pace and output cost fell for the second consecutive month amid competitive pressures and a desire to boost demand. Finally, firms remained broadly subdued regarding their assessment of output outlook amid political uncertainty, and negative forecasts for demand and production.