14.5 C

Spain June manufacturing PMI 60.4 vs 59.6 expected

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Latest data released by Markit – 1 July 2021

A solid bump in manufacturing conditions as the recovery pace keeps up, with production rising by its sharpest since May 1998 on the back of strong demand. That said, supply constraints are still persisting with record price rises being noted. Markit says that:Invest in yourself. See our forex education hub.

“As we reach mid-year, growth of the Spanish manufacturing
sector showed little sign of faltering. Output was ramped
up to a degree unprecedented in over 23 years, driven by
another considerable uplift in new orders.

“Indeed, order books were swelled by improved demand
from across a spectrum of sources, with hospitality
reportedly a key driver of growth as the economy reopens
further in line with easing COVID restrictions.

“Challenges with supply chains persist, however, with little
sign of these issues easing, not helped in part by firms
attempting to purchase goods to either restock inventory
or get ahead of further potential price rises.

“Indeed, such feedback loops are likely adding to stretched
supply chains and price pressures: latest data showed
input costs rising at the strongest rate since at least 1998
and helped explain another record increase in producer

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