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.
Manufacturing PMI in Spain averaged 50.70 points from 2011 until 2020, reaching an all time high of 56.10 points in November of 2017 and a record low of 41.10 points in June of 2012. 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. source: Markit Economics
Manufacturing PMI in Spain is expected to be 52.10 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 53.20 in 12 months time. In the long-term, the Spain Manufacturing PMI is projected to trend around 54.00 points in 2021, according to our econometric models.