Spain's manufacturing PMI contracted again in April

MADRID, 2 May. (EUROPA PRESS) -

The activity of the manufacturing sector in Spain has once again registered a contraction in April, according to the index prepared by S

The contraction of manufacturing activity in Spain in April responds to a further drop in new orders and a slowdown in production, which led to a reduction in purchasing activity and inventories as companies adjusted shipping charges. labor, while market conditions helped ease inflation and supply pressures.

In this way, Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, points out that the recovery of the manufacturing sector in Spain that had begun at the beginning of the year was interrupted in April.

However, the expert underlines that, despite this interruption, manufacturing companies have continued to increase their workforces, even at a faster rate than the previous month, while, for the second consecutive month, they enjoyed lower prices.

"In general, it should be noted that the weak momentum already seen in the Spanish manufacturing sector since the beginning of 2021 continues. However, employment growth and a historically high order book are indicators that, after all, it should not a recession can be seen in this sector in the short term," he adds.