Spain: Growth of manufacturing sector in April but supply chain disruption worsens and inflation surges

The war in the Middle East continued to have a noticeable impact on Spain’s manufacturing economy in April, with reports of supply chain disruption, product shortages, rapidly rising prices and widespread uncertainty. Nonetheless, manufacturers signalled a rise in output and a broad stabilisation of new orders as clients sought to secure manufactured goods. However, despite improving since March, confidence remained fragile, and led to ongoing caution around purchasing, employment and stock holdings. The seasonally adjusted S&P Global Spain Manufacturing Purchasing Managers’ IndexTM (PMI®) – a composite ...