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2025-11-03 16:22:59
[Spain Manufacturing PMI Expands for Sixth Consecutive Month] ⑴ Spain's manufacturing purchasing managers' index (PMI) rose to 52.1 in October, a further improvement from 51.5 in September, marking the sixth consecutive month of expansion. ⑵ Growth in both output and new orders was the main driver, but new export orders declined for the second consecutive month. ⑶ The decline in external orders was the fastest in five months, with weak demand due to political turmoil in France and US trade protectionist measures cited as major contributing factors. ⑷ Employment saw a slight decline, with analysts pointing to a more cautious labor market, and companies' willingness to expand employment being more constrained by external uncertainties. ⑸ Manufacturing confidence continued to improve, with companies generally expecting improved demand and sales growth; some companies plan to increase investment and expand production capacity in the coming year. ⑹ Benefiting from a booming tourism industry, a strong labor market driven by immigration, and stable domestic demand, the Spanish economy is expected to lead the Eurozone for the second consecutive year in 2025. ⑺ The government has raised its full-year economic growth forecast from 2.6% to 2.7%. (8) The latest data shows that the economy grew by 0.6% quarter-on-quarter in the third quarter, slightly slower than the 0.8% in the previous quarter, with a year-on-year growth rate of 2.8%.
