Spain: Middle East war leads to contraction of manufacturing sector in March

From pmi.spglobal.com

The conflict in the Middle East led to a downturn in Spain’s manufacturing economy during March. Against a backdrop of notable geopolitical uncertainty, supply-chain disruption, and rapidly rising prices for energy, fuel and inputs, manufacturers reported accelerated declines in output and new orders. Employment numbers dropped markedly, whilst uncertainty in the outlook resulted in a steep deterioration in manufacturing sector confidence. Input price inflation meanwhile picked up to its highest level since late 2022, whilst delivery times for inputs deteriorated to the greatest degree in well over three years. The ... (full story)