Latest data released by Markit - 1 April 2021
- Prior 52.9
Much like the rest of the region, Spanish manufacturing activity jumped higher last month with output improving by its quickest pace since the end of 2017. Overall new orders also grew at its sharpest in over four years, boosting the headline reading.
Markit notes that:
"Spain's manufacturing economy enjoyed a stellar March, with output growth hitting its best for over three years on the back of sharply rising domestic and international demand for manufactures.
"The sting in the tail of this sharp upturn however is that supply chains continue to be stretched, with firms reporting near record deteriorations in delivery times amid reports of a wide range of goods being in short supply. There was subsequently evidence that such delays were beginning to hamper output schedules, with firms having to, where possible, utilise stocks to keep production lines running.
"Input shortages are also continuing to fuel noticeable price increases, with both input costs and output charges rising at the strongest rates in a decade. As long as supply chains remain stretched, and with growth set to continue - expectations strengthened further in March - prices appear set to continue to rise for some time to come raising a real risk of a spillover into consumer price indices in the coming months."
