Among the dozens of indicators that analysts examine to get an idea of how the economy will behave in the coming months, the manufacturing PMI has become one of the priorities. Surveying purchasing managers from twenty industrial sectors to check the volume of their orders each month reinforced the risk of a technical recession for the Spanish economy a few months ago, and now appears to be beginning to identify the first signs of something similar to a vital signs rebound.
The PMI for the domestic manufacturing sector remains below 50 and, therefore, in contraction territory, but after six months of crashing, it has rebounded to 46.4 from 45.7 the previous month, which some analysts interpret as Industrial activity had already bottomed out And I entered the confidence-building zone in this case.
According to Javier Molina, Senior Market Analyst at eToro, the index could continue to be in negative territory in the coming months but with no tendency for an exacerbation, which “comes to form a kind of floor that may form, both in terms of confidence and number of orders and manufacturing activity in particular general “.
“The latest data from the PMI is encouraging Hopes that the sector has stabilized At least, if the situation doesn’t change and he returns to better health, Paul Smith, an economist at S&P Global Intelligence, said in remarks compiled by the EP.