Spain Manufacturing Grows Most Since Early 2022- PMI Survey

RTTNews | 24 dagar sedan
Spain Manufacturing Grows Most Since Early 2022- PMI Survey

(RTTNews) - Spain's factory sector expanded at the fastest pace in over two-an-a-half years in October, driven by significant growth in output and new orders amid an improvement in market demand, results of the latest purchasing managers' survey by S&P Global showed on Monday. The HCOB Spain manufacturing purchasing managers' index rose to 54.5 from 53.0 in September, surpassing the 53.1 reading economists had expected. The latest reading was the strongest since February 2022.

A PMI reading above 50 suggested growth in the Spanish manufacturing sector for a ninth consecutive month.

The recent PMI survey was carried out between October 10-24.

Export orders grew at the fastest rate in nearly three years. Buying activity and employment increased in October in response to the growing business.

Input cost inflation remained modest partly due to the slight reduction in crude oil prices in October, while output costs declined for a second month in a row.

Ongoing capacity constraints continued to pressure manufacturers and backlogs were depleted at the steepest rate since May and at an above average pace.

"The high demand in Spain's manufacturing sector cannot be met in full, leading to an accumulation of backlogs," Jonas Feldhusen, an economist at Hamburg Commercial Bank, said.

"For Spanish workers, this is promising news, as reducing these backlogs and meeting the uptick in orders requires additional hiring. Companies are also attempting to bolster their stocks of intermediate goods to keep pace with heightened production demands."

Business confidence climbed to the highest level since May as firms expect an improvement in sales and the economic climate over the coming year.

"Manufacturing companies are looking to grow their workforces, and there is optimism for a stable economic environment, supported by the ECB's easing measures," Feldhusen said.

"However, global downside risks persist, such as the upcoming U.S. election with unfavorable obstacles for trade and potential further escalations in the Middle East through potentially rising oil prices."

read more
Eurozone Economic Confidence Rises Unexpectedly

Eurozone Economic Confidence Rises Unexpectedly

Eurozone economic confidence rose unexpectedly in November on improving sentiment among industrial managers and retailers, survey results from the European Commission revealed on Thursday. The economic confidence index rose slightly to 95.8 in November from 95.7 in the previous month. The score was expected to fall to 95.1.
RTTNews | 15h 26minuter sedan
German GfK Consumer Sentiment To Deteriorate Sharply

German GfK Consumer Sentiment To Deteriorate Sharply

German consumer confidence is set to deteriorate sharply at the end of the year as income expectations plunged to a nine-month low on growing fears of recession, a closely watched survey showed Wednesday. The consumer sentiment index slid to -23.3 in December from revised -18.4 in November, survey results jointly published by GfK and the Nuremberg Institute for Market Decisions revealed today.
RTTNews | 1 dag sedan
German Business Confidence Weakens In November

German Business Confidence Weakens In November

German business sentiment softened in November on a notable deterioration in current conditions as economic struggles deepened, survey results from ifo Institute showed on Monday. The business climate index fell to 85.7 in November from 86.5 in the previous month. The score was expected to fall moderately to 86.0. At 84.3, the current situation index dropped to the lowest since July 2020.
RTTNews | 3 dagar sedan
Eurozone Private Sector Falls Back Into Contraction

Eurozone Private Sector Falls Back Into Contraction

The euro area private sector fell back into the negative territory in November as services activity shrank for the first time in ten months, joining manufacturing in contraction zone, survey results from S&P Global revealed Friday. The composite output index registered 48.1 in November, which was the lowest since January, and down from 50.0 in October.
RTTNews | 6 dagar sedan
German Private Sector Continues To Shrink

German Private Sector Continues To Shrink

Germany's private sector continued to contract in November as sustained weakness in manufacturing output was compounded by the first fall in services activity for nine months, flash Purchasing Managers' survey compiled by S&P Global showed Friday. The HCOB composite output index dropped to 47.3 in November from 48.6 in the previous month. The score signaled acceleration in the rate of decline in
RTTNews | 6 dagar sedan
France Private Sector Falls Deep Into Contraction

France Private Sector Falls Deep Into Contraction

France's private sector contracted the most since January as prolonged weakness in demand damped expectations, flash survey results from S&P Global showed on Friday. The flash HCOB composite output index fell markedly to 44.8 in November from 48.1 in October. This was the third monthly fall in private sector output and the score signalled the steepest contraction since January.
RTTNews | 6 dagar sedan
Germany Narrowly Skirts Recession In Q3

Germany Narrowly Skirts Recession In Q3

The German economy grew marginally in the third quarter after a contraction, preventing a technical recession, official data revealed Friday. Gross domestic product posted a sequential growth of 0.1 percent in the third quarter, revised data from Destatis showed. The rate was downgraded from 0.2 percent estimated on October 30.
RTTNews | 6 dagar sedan
Eurozone Consumer Confidence Sinks To Lowest In 5 Months

Eurozone Consumer Confidence Sinks To Lowest In 5 Months

Consumer sentiment in the euro area deteriorated more than expected to its lowest level in five months in November, preliminary results of a survey by the European Commission showed on Thursday. The flash consumer confidence index for Eurozone fell to -13.7 from -12.5 in October. Economists were looking for a score of -13.0.
RTTNews | 7 dagar sedan