According to a publication by S&P Global, the Purchasing Managers’ Index for the manufacturing sector in Spain, the manufacturing PMI, decreased in its April reading to 48.1 points from 49.5 points in March. This figure is also significantly below the 50.3 points expected by analysts in the FactSet consensus. This marks the third consecutive monthly contraction indicated by the index, with April’s reading being the lowest level reached by this indicator since the end of 2023. Any reading above 50 points suggests an expansion of activity compared to the previous month, and below that level, a contraction.
Analysts at S&P Global note in their report that the recent slowdown in Spanish manufacturing activity continued in April. During the mentioned month, production fell, and there was a sharp reduction in new orders, the most pronounced since the end of 2023. Manufacturers generally mentioned that prevailing instability and uncertainty in the market were linked to tariffs. Employment showed little change, while confidence in the outlook continued to weaken. Input prices recorded only a slight increase, while selling prices decreased due to competitive pressures.
