MADRID (Reuters) – Spain’s manufacturing sector ended 2024 on a powerful be aware, with each output and new orders accelerating in December, a survey by S&P World confirmed on Thursday, in a stark distinction with the remainder of the euro zone.
The headline HCOB Spain Manufacturing Buying Managers’ Index (PMI) rose to 53.3 in December from 53.1 in November, marking the eleventh consecutive month above the 50.0 threshold that signifies development.
The preliminary survey compiled by S&P World within the euro zone two weeks in the past confirmed a contraction of financial exercise in December.
The efficiency of Spanish manufacturing was bolstered by a sturdy demand surroundings, with notable will increase in new export orders, notably from Europe and North Africa. This energy in demand prompted companies to ramp up manufacturing and improve staffing ranges for the fourth consecutive month.
Regardless of the constructive output, companies confronted challenges with provide chain disruptions, partly because of lethal floods in late October.
Enter value inflation reached its quickest stage in 5 months, pushed by a powerful U.S. greenback which lifted up the price of imported items.
“Spain demonstrates resilience against the European weakness in the manufacturing sector… The production in Spain’s manufacturing sector is booming thanks to a strong order situation,” Jonas Feldhusen, an economist at Hamburg Industrial Financial institution, stated within the S&P report.
Trying forward, Spanish producers are optimistic, with confidence within the financial outlook enhancing to its highest since Might 2024.
The nation’s central financial institution on Dec. 17 raised its financial development forecast for the total 12 months to three.1% from a earlier 2.8%. The economic system grew 2.5% in 2023.
