Spain: Manufacturing PMI rises in January
The HCOB Spain Manufacturing Purchasing Managers Index (PMI) improved to 49.2 in January from 46.2 in December. As a result, the index remained below the 50.0 no-change threshold, but signaled a softer deterioration in manufacturing sector operating conditions compared to the previous month.
The manufacturing PMI stayed below 50.0, showing a slight industry contraction. Output, new orders, and employment declined at a slower rate, while supplier performance worsened due to the Red Sea crisis. Business confidence improved, driven by expectations of new product releases and organic business growth amid weak global demand.