Latest data released by Markit - 2 November 2021
- Prior 58.1
That's the lowest reading since March as Spanish factory activity was weighed down by supply chain disruptions and rising inflation last month. Of note, output growth deteriorated sharply for a second straight month as supply constraints worsened.
Markit notes that:
"Spain's manufacturing economy continued to expand strongly in October, but the double hit of supply constraints and price pressures served to noticeably limit production growth.
"Moreover, despite having little choice but to raise their own charges in the face of an onslaught of ever rising costs, there was some evidence from manufacturers that client demand was showing signs of waning.
"Whilst on balance firms remain optimistic that growth will be sustained, worries over the persistence of unabating price pressures is the biggest fear for manufacturers when assessing the direction of travel over the coming 12 months."
