Friday. 02.12.2022
INDUSTRY

The growth of the Spanish manufacturing slows down

The war in Ukraine served to exacerbate already embedded supply chain and inflationary pressures

24 March 2022, Spain, Lugo: Transport workers take part in a demonstration calling for the resignation of the Spanish Minister of Transport on the 11th day of the national strike of transporters. Photo: Carlos Castro/EUROPA PRESS/dpa.
Transport workers take part in a demonstration in Lugo calling for the resignation of the Spanish Minister of Transport in March. Photo: Carlos Castro/dpa.

Spain's manufacturing sector continued to expand in March, but the pace of growth eased due to the uncertainties caused by the war in Ukraine, data released by S&P Global showed on Friday.

The manufacturing purchasing managers' index dropped to 54.2 in March, from 56.9 in April.

This was the lowest reading for more than a year.

New order books were down for the first time since January 2021, while output growth sank noticeably to hit its lowest in the past 14 months.

The war in Ukraine served to exacerbate already embedded supply chain and inflationary pressures.

Employment, confidence

Overall prices for inputs rose to the sharpest degree since last November.

At the same time, output prices logged a near record increase in March.

Additionally, employment grew at the weakest pace in 13 months of expansion. Confidence about the future was at its lowest level since May 2020.

The growth of the Spanish manufacturing slows down
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