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The Spanish manufacturing PMI (Buying Managers Index) fell to 52.30 factors in June from 54 factors in Could 2024, indicating that the enlargement fee has slowed down and is extra average.
Components supporting June’s PMI had been progress in output and new orders, however at a slower tempo. producer It additionally famous that its completed items inventories elevated barely, partially attributable to a optimistic order pipeline.
Key findings embrace: Manufacturing and new orders are rising once more, however at a slower tempo; Job progress is slowing as confidence weakens; Enter value inflation accelerates to its highest stage since November 2022.
“Uncertainty following the European elections has put stress on Spanish producers. In June, the index worth fell sharply from 54.0 to 52.3. Nonetheless, a key distinction in contrast with Europe as a complete is that Spain’s index continues to be rising Weak areas Though current PMI preview knowledge confirmed that manufacturing and demand progress within the euro zone accelerated in June, enterprise expectations have accordingly dropped to the bottom stage in 2024 and are under historic averages, Jonas Feldhusen, junior economist at Commerzbank Hamburg. categorical.
ETF: (EWP), (EUFN)