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Spain: Growth of manufacturing sector sustained but at a slower rate in November
Growth of Spain’s manufacturing economy was sustained in November, with output and new orders continuing to expand solidly. Confidence in the outlook remained positive although firms were reluctant to hire additional staff with workforce numbers little changed overall. Moreover, growth occurred partly due to a squeeze in margins. Latest data showed that output charges were cut for the third successive month as, despite a marginal rise in input costs, firms offered discounts in response to competitive pressures. The seasonally adjusted HCOB Spain Manufacturing Purchasing Managers’ IndexTM (PMI®) – a composite ... (full story)
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Economic activity in the manufacturing sector contracted in November for the ninth consecutive month, following a two-month expansion preceded by 26 straight months of contraction, say the nation's supply executives in the latest ISM® Manufacturing PMI® Report. The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. "The Manufacturing PMI® registered 48.2 percent in November, a 0.5-percentage point decrease compared to the reading of 48.7 percent in October. The overall economy continued in expansion for the 67th month after one month of contraction in April 2020. (A Manufacturing PMI® above 42.3 percent, over a period of time, generally indicates an expansion of the overall economy.) The New Orders Index contracted for a third straight month in November following one month of growth; the figure of 47.4 percent is 2 percentage points lower than the 49.4 percent recorded in October. The November reading of the Production Index (51.4 percent) is 3.2 percentage points higher than October's figure of 48.2 percent. The Prices Index remained in expansion (or 'increasing' territory), registering 58.5 percent, up 0.5 percentage point compared to the reading of 58 percent reported in October. The Backlog of Orders Index registered 44 percent, down 3.9 percentage points compared to the 47.9 percent recorded in October. The Employment Index registered 44 percent, down 2 percentage points from October's figure of 46 percent. US ISM Manufacturing Nov: 48.2 (est 49.0; prev 48.7) - Price Paid: 58.5 (est 57.5; prev 58.0) - New Orders: 47.4 (prev 49.4) - Employment: 44.0 (prev 46.0)
