This is a good pace since Spanish manufacturing activity shows stronger growth in April. This is the third consecutive month that it has remained above the 50.0 threshold. It should be noted that production and new orders saw a sharp increase during the month. The HCOB notes that:
“Spain continues to shine as the best performing country among the major Eurozone countries. Although we have not yet seen a recovery in the manufacturing sector in the Eurozone, Spain has maintained the trend of growth in which it engaged in February and March Indicators suggest that the recovery of the Spanish manufacturing sector is driven by the continued improvement in both domestic and international demand. increase their production for the third consecutive month.
“This optimistic trend is also good news for workers. Work delays increased for the third consecutive month in April, coupled with high confidence in a favorable economic outlook for the coming months, prompting industrial companies to continue hiring. The solid development of the manufacturing sector is that the prices of business inputs are increasing. The companies surveyed indicate that the increase in input prices is due to the increase in raw material prices. Due to the lack of pricing power, this cannot translate into higher product prices.
“Growth is evident across all sub-sectors. Consumer goods continue to show the strongest growth in Spanish industry, as production and orders for consumer goods remain very robust and accelerated in April. However, investment and intermediate goods also showed improvements, as both were able to increase production While orders improved for capital goods, they decreased slightly for intermediate goods.
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