Seleccions

Seleccions

Seleccions

Spain business
Home›Spain business›Spain’s industrial activity remains strong despite the persistence of supply problems -PMI

Spain’s industrial activity remains strong despite the persistence of supply problems -PMI

By James K. Martin
October 1, 2021
0
0
Share:


MADRID (Reuters) – Activity at Spanish factories rose again at a rapid pace in September, but supply chain disruptions and raw material shortages weighed on the sector, an investigation found on Friday.

The IHS Markit purchasing managers index (PMI) for the manufacturing sector in Spain fell to 58.1 in September, from 59.5 in August. However, the reading was well above the 50.0 mark which indicates an expansion in activity and was not far from the June reading of 60.4 which was the highest in more than two decades. .

“Growth is clearly constrained by severe and persistent delays on the supply side, which show little sign of dissipating,” said IHS Markit economist Paul Smith.

Supply chain disruptions and mismatches between supply and demand for raw materials have contributed to the rise in input prices, which in turn has encouraged manufacturers to stockpile and therefore produce even more. .

Companies have reported that demand is growing further as some customers place orders in advance to protect against delivery delays.

Spain’s statistics department INE lowered second-quarter economic growth to 1.1% earlier this week, from 2.8% initially, raising concerns about the speed of the recovery.

Spain’s economy contracted 0.4% in the first quarter after rising COVID-19 cases forced further restrictions on business activity.

The government expects the economy to grow 6.5% this year after the record 10.8% contraction in 2020.

(Reporting by Inti Landauro; Editing by Susan Fenton)


Related posts:

  1. A different animal: untranslatable Spanish idioms
  2. Sivó becomes the first Meltio Engine integrator in Spain and Portugal
  3. Leading multinationals invest in data center markets in Spain, Sweden and Ireland
  4. Pandora Papers: Corinna Larsen and businessman Allen Sanginés-Krause are co-owners of a company in Seychelles | United States
Previous Article

La Palma volcano eruption today: evacuation, possible ...

Next Article

Contemporary villa along Spain’s Costa Blanca boasts ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Spain business

    Can Tho seeks Spain’s support in urban planning | Company

    May 7, 2022
    By James K. Martin
  • Spain business

    Plastic Energy and TotalEnergies sign an agreement for an advanced recycling project in Spain

    January 11, 2022
    By James K. Martin
  • Spain business

    Suspected Costa del Sol cryptocurrency scammer arrested | Spain

    November 23, 2021
    By James K. Martin
  • Spain business

    Codere among the 100 most valuable brands in Spain

    June 3, 2022
    By James K. Martin
  • Spain business

    THIS company is taking all employees on a four-day vacation, to spend Rs 1 crore on the trip | ...

    February 9, 2022
    By James K. Martin
  • Spain business

    Salmeterol Market Upcoming Trends, Company Growth, Competitors, Company Market Share Analysis

    February 12, 2022
    By James K. Martin

Leave a reply Cancel reply

  • Spain business

    MATCHDAY: Barcelona try to regain 2nd place; Burnley–Southampton

  • Spain resorts

    IHG Hotels & Resorts slashes hotel stays by 25% through 2023 with massive sale | Travel News | Travel

  • Spain beach

    MATCHDAY: Benitez under pressure as Everton welcomes Arsenal