Spain: Composite PMI dips in November
The HCOB Composite Purchasing Managers’ Index (PMI) fell to 49.8 in November from October’s 50.0. Consequently, the index moved marginally below the 50-threshold, pointing to deteriorating business activity from the previous month. The HCOB Manufacturing PMI rose to 46.3 in November from 45.1 in October. Contractions in output, new orders and employment were behind the downbeat reading. On the price front, input costs dropped for the ninth consecutive month, leading output prices to fall for the eighth consecutive month. Lastly, sentiment remained considerably downbeat.
The HCOB Services PMI decreased to 51.0 in November from 51.1 in October. Activity continued to increase while new orders fell. Menwhile, employment expanded for the 14th consecutive month. On the price front, input price inflation decelerated but remained sustained, while output price inflation accelerated. Lastly, business confidence improved amid hopes of stronger demand ahead.
The HCOB Manufacturing PMI rose to 46.3 in November from 45.1 in October. Contractions in output, new orders and employment were behind the downbeat reading. On the price front, input costs dropped for the ninth consecutive month, leading output prices to fall for the eighth consecutive month. Lastly, sentiment remained considerably downbeat.
The HCOB Services PMI decreased to 51.0 in November from 51.1 in October. Activity contined to increase while new orders fell. Menwhile, employment expanded for the 14th consecutive month. On the price front, input price inflation decelerated but remained sustained, while price inflation acceleratedc. Lastly, business confidence improved amid hopes of stronger demand ahead.