CdM | Activity in the Spanish manufacturing sector deteriorated in August for the fifth consecutive month and has fallen to its lowest level so far this year, according to the PMI index, which has fallen to 46.5 points from 47.8 points in the previous month, according to the survey by S&P Global and Hamburg Commercial Bank, which has just been reported by Europa Press.
The fall in the index in August was the result of a contraction in order backlog volumes. Total new orders fell for the fifth consecutive month due to fragile demand and the latest decline was the sharpest since the pandemic began.
Despite the drop in activity, business sentiment improved in August to its highest level in six months on expectations that demand will grow over the next year and employment rose for the first time in three months.
